The South Korean government has imposed financial sanctions on three North Korean companies following the communist state’s long-distance rocket launch in April

The Ministry of Strategy and Finance said financial sanctions went into effect on June first for three North Korean firms, which include a bank and a trading company specializing in weapons exports.

As a result, South Korean companies will be banned from conducting any financial or business transactions with the North Korean companies. Assets held by North Korean firms in South Korea will also be frozen.

A ministry official said the financial sanctions are in line with a U.N. Security Council decision to impose financial penalties on the communist country for the April rocket launch.

The official added that the government will keep pace with the U.N. if the world body decides to seek new punishments against the North for its latest nuclear test in May.