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S. Korea Slaps More Independent Sanctions on N. Korea Following ICBM Launch

Written: 2024-11-01 16:25:25Updated: 2024-11-01 17:41:57

S. Korea Slaps More Independent Sanctions on N. Korea Following ICBM Launch

Photo : YONHAP News

The government has decided to slap more independent sanctions on North Korea in the wake of the reclusive state’s launch of a long-range ballistic missile on Thursday. 

The foreign ministry announced that South Korea will impose sanctions on eleven individuals and four entities, stressing that Seoul has made clear that North Korea’s provocations will, by all means, suffer the consequences. 

The blacklisted individuals were involved in illegal exports and procurement of foreign currency and goods in North Korea, Germany, Senegal and Mozambique. 

Among such individuals is Choi Kwang-soo, who was involved in exporting North Korean weapons and related items while heading the economic and trade mission’s office in Mozambique.

Five former and incumbent officials of the Korea National Insurance Corporation’s head office and office in Germany were also included in the sanctions list. 

The foreign ministry said the insurance corporation, which handles financial and insurance duties, is associated with Room 39, which manages foreign currency earnings for the ruling Workers’ Party of Korea. 

Choe Chol-min, an official of the North Korean embassy in China, was listed for his involvement in procuring dual-use items that can be used for both civilian and military purposes as well as in dispatching more than one-thousand North Korean laborers to China. His wife was included in the sanctions list for participating in the procurement effort. 

Four North Koreans who secured orders for construction projects in Senegal and managed such operations were listed for paying the proceeds from such projects to the North Korean government. 

The four entities that will face sanctions are all involved in earning foreign currency in Senegal, including an agency under the North's defense ministry charged with securing foreign currency, Tongbang Construction, a front company for the North’s Mansudae Overseas Projects company as well as local companies Patisen SA and EMG Universal Auto. 

The latest sanctions will take effect from 12 a.m. next Wednesday.

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