Search

 

Cablegate: Blue Lantern: Verifying Bona Fides of Registered Broker

VZCZCXYZ0001
RR RUEHWEB

DE RUEHUL #1822 3220529
ZNR UUUUU ZZH
R 180529Z NOV 09
FM AMEMBASSY SEOUL
TO RUEHC/SECSTATE WASHDC 6260
INFO RUCPDOC/USDOC WASHDC 9419
RUEKJCS/SECDEF WASHINGTON DC
RUEKDIA/DIA WASHINGTON DC
RHMFIUU/FBI WASHINGTON DC
RUETIAA/DIRNSA FT GEORGE G MEADE MD
RUEAIIA/CIA WASHINGTON DC

UNCLAS SEOUL 001822

SIPDIS

E.O. 12958: N/A
TAGS: ETTC KOMC KS
SUBJECT: BLUE LANTERN: VERIFYING BONA FIDES OF REGISTERED BROKER
JOSEPH YUNG HUCHUN - CASE NO. K-0451

REF: A) STATE 99535

1. Seoul-based company "Cool and Joy" was founded in March 2000 and
serves principally as a sales representative for Northrop Grumann
Information System (NGIS). Per reftel, ECON officer visited Cool and
Joy headquarters on November 5, 2009 to verify the bona fides of
registered broker Joseph Yung Huchun, president of the company.

2. According to Post's investigation, Cool and Joy has been located
at Room 324, Life Officetel, 61-3,
Yoido-dong, Youngdeungpo-Gu, Seoul, the Republic of
Korea (ROK) since May 2009. Roh Je-ho, Managing Director of Cool
and Joy and the Defense Acquisition Procurement Administration
(DAPA) separately confirmed to Post that the company is a
DAPA-registered supplier of components for defense communication
network system such as gate manager and tigers, commercial version
of U.S. commanding control system.

3. While NGIS is Cool and Joy's main client, company
founder Joseph Yung Huchun told us the company has
for five years served as a sales representative for
Weibel Scientific, a Denmark-based tracking radar
manufacturer that supplies the Agency for Defense and
Development (ADD) under the ROK Ministry of National
Defense with Doppler radar equipment.

4. The company does not have a secured storage facility for USML
items because it only serves as a broker on behalf of U.S. exporters
of these items. All imported USML items are directly delivered to
Korean clients who maintain secured storage facilities.

5. Cool and Joy has six employees. Joseph Yung Hu-
chon (Kim Hu-chon), a U.S. citizen, founded the
company in March 2000. Yung spent twenty seven years
in the U.S. Army and retired as Director of the
JUSMAG, Seoul, ROK in February 1990. Prior to
creating Cool and Joy, from 1990 to 1997 Yung was
Vice President of Texas Instruments, Korea. The main
principals include Chung Ji-Yong, Advisor since 2001,
who spent thirty-two years with the ROK's Ministry of
National Defense. Im Hyon-Jung, who retired as
Director after thirty-six years at the MND, joined
the company as an Advisor in 2001. Min Won-Sik,
Managing Director, joined the company in July, 2008
after thirty years in the ROK Army. His last ROK
military position was Manager of ROK Army Information
System Managing Group.

6. Main clients for Cool and Joy are: ROK Ministry
of National Defense, Seoul, ROK; DAPA located in
Seoul ROK; Korea Agency for Defense Development
located in Daejeon, ROK; Korea Institute for Defense
Analysis located in Seoul, ROK; Samsung SDS located
in Seoul, ROK; LIG Nex 1 located in Seoul, ROK;
Huneed located in Kunpo City, Gyeonggi Province, ROK;
and Korea Aerospace Research Institute located in
Daejeon, ROK.

7. The company reported that it has been registered
as a broker with the PM/DTCC since 2006. Yung said
the company is fully aware of the importance of the
restrictions of USML sensitive items and the
prohibitions of retransfers or re-exports of such
items and technology. He emphasized that the
company's staff are given updates on the U.S. export
controls regulations every year by NGIS's general
counsel's office responsible for export controls
regulations. The most recent NGIS briefing on U.S.
export control regulations was done in mid-October,
2009 in Seoul.

8. This investigation was conducted through a site
visit, as well as telephone and email communications.
ICE attache has verified that the company has
neither criminal nor derogatory information.
Moreover, Post Foreign Commercial Service has also
confirmed that the company is a legitimate business
entity.

STEPHENS

© Scoop Media

 
 
 
World Headlines

 


Human Rights: China Journalist Jailed For COVID Reporting Seriously Ill, Must Be Released

UN human rights experts* today urged China to immediately release imprisoned citizen journalist and woman human rights defender Zhang Zhan on humanitarian grounds, saying her health is deteriorating rapidly and her life is in danger... More>>

CID: PNG Deadly Covid Crisis Getting Worse
People in Papua New Guinea are not getting enough Covid vaccines due to misinformation. This is causing immense stress and suffering throughout the country, says Quenelda Clegg Chair of CID’s Humanitarian Network...More>>


Sudan: Bachelet Condemns Killings Of Peaceful Protesters

At least 39 people have been killed by security forces in Sudan since the 25 October military coup, 15 of whom were reportedly shot dead on Wednesday, according to the UN High Commissioner for Human Rights...
More>>


Focus On: UN SDGs

Food: Three Billion People Cannot Afford A Healthy Diet

Approximately three billion people, almost 40 per cent of the world’s population, cannot afford a healthy diet and another one billion people would join their ranks should further unpredictable events reduce incomes by one-third, the UN food agency said, launching a new report on Tuesday... More>>

COP26: Enough Of ‘Treating Nature Like A Toilet’ – Guterres Brings Stark Call For Climate Action To Glasgow
As the World Leaders Summit opened on day two of COP26, UN chief António Guterres sent a stark message to the international community. “We are digging our own graves”, he said, referring to the addiction to fossil fuels which threatens to push humanity and the planet, to the brink, through unsustainable global heating... More>>


Climate: ‘Vague’ Net Zero Promises Not Enough: Planet Still On Track For Catastrophic Heating, UN Report Warns

New and updated commitments made ahead of the pivotal climate conference COP26 in the past months are a positive step forward, but the world remains on track for a dangerous global temperature rise of at least 2.7°C this century even if fully met, a new report by the UN Environment Programme (UNEP) has warned... More>>