What is Adani Group's North Korea connection?

The Congress party has accused the Adani Group and the Indian government of a lack of concern over the alleged involvement of Chinese national Chang Chung-Ling in the conglomerate's activities, and his potential involvement in important defence contracts.

The Congress party has accused the Adani Group and the Indian government of a lack of concern over the alleged involvement of Chinese national Chang Chung-Ling in the conglomerate's activities, and his potential involvement in important defence contracts.

According to the Congress, Chang is involved in smuggling petroleum products to North Korea in violation of UN sanctions, and his links with the Adani Group are extremely close.

Adani Group's North Korea connection

According to recent reports published by Adani Watch, the Adani Group allegedly provided financial support to a company that violated sanctions imposed by the United Nations Security Council (UNSC) regarding trade with North Korea.

The company in question was owned by the sons of Chang Chung-Ling, who is associated with the Adani Group and was mentioned in the Hindenburg report due to his directorship of Adani entities that were under scrutiny.

The issue centers around a tanker that transferred oil products to a North Korean ship in December 2017, in violation of UNSC sanctions. The UNSC's 2018 report on illegal trade with North Korea identifies this vessel and the individuals and companies associated with it, some of which are believed to have documented ties to the Adani Group.

Adani Shipping (China) Co Ltd, a company associated with the Adani Group, was involved in international trade with Hi Lingo Co Ltd, a company owned by Lingo-Chang, who is linked to a sanctioned company owned by his sons.

Shanghai Adani Shipping Co Ltd, another Adani-branded company, owned by Adani Shipping (China), also had ties to a company called Firstec Maritime, which was involved in a transaction that violated UN Security Council sanctions against North Korea.

South Korea seized tanker called Koti

Firstec Maritime chartered a tanker called the Koti, which was seized by South Korean authorities in December 2017 for allegedly transferring oil to a North Korean vessel. Morris and Norris Chang, directors of the Koti Corporation, which owned the tanker, were also directors of Firstec Maritime.

The Koti was impounded for two years before being scrapped, and the Shanghai Adani Shipping company was subsequently wound up.

As we pointed out on February 4, Chang Chung-Ling is alleged to be involved in activities such as smuggling petroleum products to North Korea in violation of UN sanctions.

Chang's Adani links are extremely close: in 2005, he declared the same residential address in Singapore as Vinod Adani and his Singapore-based firm Gudami International was named by the Directorate of Revenue Intelligence in its investigation into the Adani Group's diamond trading scam in 2013.

Keep Reading

• What Hindenburg research report say about Adani?
• Know about Adani’s CFO Jugeshinder Singh?
• Adani’s ‘Hindenburg Shock’ affected Australian investors as well

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