South Korea’s New Unilateral Sanctions Against North Korea: Latest Updates and Implications

2023-07-14 05:20:19

South Korea today announced new unilateral sanctions once morest four individuals and three North Korean entities. in response to Wednesday’s launch of a solid-fueled intercontinental ballistic missile (ICBM).

The South Korean Foreign Ministry explained in a statement that this action is “in response to North Korea’s launch on Wednesday, July 12, of a long-range ballistic missile, something that threatens the peace and security of the Korean Peninsula and the international community”.

Thus, “The Government of the Republic of Korea (official name of the South) announced this Friday, July 14, that it has decided to designate four individuals and three entities involved in the development and financing of the North Korean nuclear and missile program as subject to separate sanctions once morest North Korea”add the text.

Among the four individuals sanctioned are two regime officials, Jong Kyong-taek, a member of the Politburo and the State Affairs Commission, and Park Kwang-ho, former director of the Department of Propaganda and Agitation, an area in which Kim Yo-jong, sister of North Korean leader Kim Jong-un, is deputy director.

The other two are Park Hwa-song and Hwang Gil-soo, who run the “front company” Congo Aconde, which acts as the branch of the Chosun Baekho trading house in the Democratic Republic of the Congo and earns foreign currency for the regime by making and exporting statues and sculptures and sending North Korean workers for construction work.

In this sense, the South Korean Foreign Ministry recalls that UN sanctions punish the export of North Korean statues, a business that the regime carries out especially in African countries, taking advantage of the know-how of artisans who work in centers such as the Mansudae Art Studio in Pyongyang, in charge of making the statues of North Korean leaders and other pieces of propaganda art.

The new package of sanctions also includes the Congo Aconde company itself and its parent company, Chosun Baekho, in addition to the Chilsung Trading company, in charge of “smuggling goods such as machinery”, according to seoul

Today is the tenth package of unilateral sanctions once morest North Korea approved by the government of the conservative Yoon Suk-yeol since it came to power in May 2022, with which the number of individuals and entities subject to them increases to 49 and 50, respectively.

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