The ministry in charge of inter-Korean affairs said on Monday that it will work together with the international community to stop North Korea’s evolving money laundering schemes.
According to unification ministry spokesperson Koo Byoung-sam during a regular press briefing, the North’s illicit operations to fund its nuclear and weapons of mass destruction program are becoming “bolder day by day, in means and scale.”
He stressed that the solution to all problems on the Korean Peninsula, such as North Korea’s denuclearization and the promotion of human rights in the country, depends on blocking the inflow of “black money” to the regime.
Koo said Seoul will actively work with the international community to cut off the funds, but did not provide further details.
The statement came after the Financial Action Task Force, a global intergovernmental anti-laundering body, decided in a plenary meeting in Paris last week to maintain North Korea on the list of “high-risk jurisdictions subject to a call for action” for the 13th straight year.
Those on the list are defined as having significantly deficient efforts to counter money laundering, terrorist financing and financing of proliferation.