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A dozen North Korean hockey players wearing white-and-red winter parkas crossed the heavily fortified border into South Korea earlier yesterday, as about 30-40 conservative activists shouted anti-Pyongyang slogans at a nearby border area.

The 12 players are comprised of nine forwards, two defenders and a goaltender.

One of the company's online profile claims its main products are beans and grain, but the Treasury's sanctions report states it sold computers to North Korea and has connections to the regime's missile program.

"I sincerely welcome your arrival", Lee Jae-kun, head of the athletes' village, told the North Koreans after they got off a bus.

If it does mark February 8 with a military parade, it would be the day before the opening ceremony of the PyeongChang Winter Olympic Games, set to kick off in South Korea's northeastern province of Gangwon, a challenge to the Moon Jae-in administration's effort to hold a "Peace Olympics".

The US and South Korea, key allies facing an increasing threat from North Korea, usually conduct Key Resolve and Foal Eagle at the start of Spring season in the country.

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"Hong Kong, of course, is an worldwide financial hub and at the same time it has company formation and registration rules that we think need to be stronger", Mandelker said.

A CNN investigation previous year found a number of North Korea-connected front companies operating in Hong Kong. On South Korea's biggest portal website Naver, "Pyongyang Olympics" has become one of the top trending terms in recent days. Chung shook hands with each of the North Korean hockey players and thanked them for taking the trouble to make the long journey despite the cold weather. It said that between 2013 and 2017, the two companies cumulatively exported over USD68 million worth of goods to North Korea and imported more than $19 million of goods from North Korea. -South Korea war games that have raised the ire of Pyongyang in the past. The sanctions also target a number of North Korean shipping and trading companies, as well as an electronic firm known as Hana Electronics JVC, and North Korea's Ministry of Crude Oil Industry.

North Korea's intentions with this unprecedented action of unity are not clear.

"Nefarious regimes, including China and Russian Federation and Iran and Cuba, as well as governments with weak export controls, bankrolled North Korea's nuclear pursuits", Cruz said in remarks made at the Hudson Institute in Washington, DC. A series of advanced missile and nuclear tests by the country a year ago prompted the United States and its allies in the region to pile maximum pressure on Pyongyang.

It added joint military drills with "outside forces" were unhelpful for the development of relations between North and South Korea.