South Korea has announced its own sanctions against North Korea for the second time in less than two months, blacklisting eight individuals and seven institutions.

The foreign ministry said on Friday that the government is imposing the sanctions to sternly respond to the North's launch of an intercontinental ballistic missile on November 18, as well as the escalating threat the North's nuclear weapons and missiles pose to peace and stability on the Korean Peninsula and beyond.

The blacklisted individuals and institutions reportedly contributed to the development of the North's nuclear and missile programs or evasion of sanctions.

The latest sanctions are the second round to be imposed under the Yoon Suk Yeol administration, coming about 45 days after Seoul slapped unilateral sanctions on Pyongyang for the first time in five years on October 14.

The decision also came as the U.S. Treasury Department on Thursday imposed its own sanctions against three North Korean party officials over their alleged involvement in the country's illegal weapons development program.