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South Korea announces new sanctions against Pyongyang

Monday, November 06, 2017 - 01:02

South Korea has imposed unilateral sanctions on 18 North Koreans, barring any financial transactions between those sanctioned and any South Koreans, as part of international efforts to dry up Pyongyang’s illegal cash flows. Grace Lee reports.

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A day before Donald Trump touches down in South Korea, Seoul is tightening the economic noose around Pyongyang. 18 North Koreans linked to the banking sector have been hit with unilateral sanctions this Monday (November 6), barring them from financial transactions with anyone in the South as part of international efforts to dry up the secretive country's illegal cash flows. (SOUNDBITE) (Korean) SOUTH KOREA'S UNIFICATION MINISTRY SPOKESMAN, BAIK TAE-HYUN, SAYING: "We hope this will contribute to blocking North Korea's main sources of income - and its development of weapons of mass destruction." Trump arrives in Seoul on Tuesday (November 7) and dealing with North Korea is a key focus of his visit to Asia, where he's expected to speak at length about the county's nuclear weapons program. The new sanctions are seen as largely symbolic, although government officials deny they're tied to Trump's visit. Either way, they'll ultimately have little impact to Pyongyang's illegal activities, as all trade and financial exchanges have been barred since early 2010 after a South Korean warship was torpedoed by The North.

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South Korea announces new sanctions against Pyongyang

Monday, November 06, 2017 - 01:02