Seoul imposes unilateral sanctions on NK firm, 5 individuals linked to WMD financing

The Korea Times

The Korea Times

National

Wed, November 29, 2023 | 11:30

Defense

Seoul imposes unilateral sanctions on NK firm, 5 individuals linked to WMD financing

Posted : 2023-09-01 09:13

Updated : 2023-09-02 08:17

This photo, carried by North Korea's Korean Central News Agency on Aug. 31, shows the North's leader Kim Jong-un, left, visiting the training command post of the General Staff of the North Korean army on Aug. 29 as the country conducted military command drills involving the entire army in response to the ongoing South Korea-U.S. joint military drill, the Ulchi Freedom Shield. Yonhap

South Korea on Friday imposed unilateral sanctions on a North Korean company and five individuals involved in illicit financing for weapons of mass destruction programs, Seoul's foreign ministry said.

The North's Ryukyong Program Development and its chief, Ryu Kyong-chol, were among those newly added to Seoul's sanctions list against Pyongyang's nuclear and missile development programs, according to the ministry.

The other individuals are Kim Hak-chol, Jang Won-chol, Ri Chol-min and Kim Ju-won, all of whom are connected to the company.

South Korea was the first in the world to sanction the named individuals and company among other nations that have in place independent blacklists connected to North Korea's weapons program, according to the ministry.

The announcement came after Pyongyang's failed launch of a purported space rocket, carrying what it claimed to be was a military reconnaissance satellite, last Thursday, which marked its second botched attempt this year.

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North Korea also conducted a military command post drill Tuesday involving the scenario of occupying South Korean territory in response to Seoul and Washington's combined military exercise.

The ministry said the latest sanctions "demonstrate the strong determination of our government to lead international efforts to prevent North Korea's development of satellites, drones and other unmanned aerial vehicles."

It added the sanctions also target North Korea's efforts to evade international sanctions and Pyongyang's efforts to procure funds for nuclear and missile activities.

The announcement marks Seoul's 11th unilateral sanctions measure against the North since the launch of the Yoon Suk Yeol administration in May last year.

A total of 54 individuals and 51 agencies have been added to the sanctions list since he came to office. (Yonhap)