• APT43 is a prolific cyber operator that supports the interests of the North Korean regime. The group combines moderately-sophisticated technical capabilities with aggressive social engineering tactics, especially against South Korean and U.S.-based government organizations, academics, and think tanks focused on Korean peninsula geopolitical issues. • In addition to its espionage campaigns, we believe APT43 funds itself through cybercrime operations to support its primary mission of collecting strategic intelligence. • The group creates numerous spoofed and fraudulent personas for use in social engineering, as well as cover identities for purchasing operational tooling and infrastructure. • APT43 has collaborated with other North Korean espionage operators on multiple operations, underscoring the major role APT43 plays in the regime’s cyber apparatus.