North Korea suspected of using house in leafy south-east London to fund nuclear weapons programme

North Korea is suspected of using a house in a leafy area of south-east London to help fund the country’s nuclear weapons programme.

According to the Sunday Times, the property in Blackheath has been registered as the UK branch of Korea National Insurance Corporation – the regime’s state controlled insurance firm.

The organisation was placed under EU sanctions last year, the newspaper reported.

The EU sanctions listing, which discloses the address, says the KNIC is "generating substantial foreign exchange revenue which could contribute to [the country's] nuclear-related, ballistic missile-related or other weapons of mass destructionrelated programmes".

It also references insurance company “Office 39” which has been linked to funding leader Kim Jong-Un’s lifestyle, The Times reported.

KNIC's UK assets, including the Blackheath house, have been frozen by the Treasury and cannot be sold without the government's permission.

The North Korean embassy in London told The Times that the allegations were "groundless".