Share

South Korea imposes new sanctions on North Korea

Seoul — South Korea added several North Korean groups and individuals to its sanctions list on Monday in a largely symbolic move that is part of efforts to cut off funding for the North's weapons programmes.

The government said those added were 20 North Korean groups, including several banks and companies, and 12 individuals.

Seoul is among the first to respond to North Korea's November 29 missile launch with fresh sanctions. While the move is largely symbolic because all transactions between two Koreas have been banned for years, the government said it hopes its move will prompt the international community to do likewise.

The measure will "remind the international community of the risks of doing transactions with the groups and individuals", Baek Tae-hyun, South Korea's Unification Ministry spokesperson, said during a media briefing.

The blacklist includes Rason International Commercial Bank and Korea Zinc Industrial Group. Individuals are North Korean officials who work for the country's banks or companies based in China, Russia, Vietnam and Namibia.

US President Donald Trump's UN ambassador has been urging the world to cut trade and diplomatic ties with Pyongyang.

Last month, North Korea has test-fired its most powerful missile ever, an ICBM that may be able to target the eastern seaboard of the United States.

Separately on Monday, South Korea, the United States and Japan started two-day missile tracking drills in response to North Korea's missile and nuclear threats.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Voting Booth
Do you think corruption-accused National Assembly Speaker Nosiviwe Mapisa-Nqakula will survive a motion of no confidence against her?
Please select an option Oops! Something went wrong, please try again later.
Results
No, her days are numbered
41% - 496 votes
Yes, the ANC caucus will protect her
59% - 702 votes
Vote
Rand - Dollar
18.91
+0.1%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.37
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE