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Sunday, July 14, 2024

Seoul imposes additional sanctions on those assisting Pyongyang’s nuclear program


South Korea has imposed additional sanctions on four individuals and six institutions assisting North Korea’s nuclear and missile program, as well as Pyongyang’s evasion of restrictions, the South Korean Foreign Ministry said on Tuesday.

The restrictions, in particular, affected two Singaporean companies — Wee Tiong (s) Pte Ltd and WT Marine Pte Ltd — as well as the North Korean Central Prosecutor’s Office, the South Korean Foreign Ministry said.

Seoul believes the companies have contributed to Pyongyang’s missile and nuclear program and helped it to evade sanctions by illicit financial activities, as well as by sending North Korean workers abroad and controlling them.

Meanwhile, personal sanctions have been imposed on four individuals, including Vice Chairman of North Korea’s Central Military Commission Ri Yong Gil, and the head of two sanctioned Singaporean companies, Tan Wee Beng, who is also listed as one of the most wanted criminals by the US Federal Bureau of Investigation for money laundering, the South Korean Foreign Ministry said.

This is already the fifth round of South Korean sanctions against North Korea since South Korean President Yoon Suk-yeol came to power last May.

The development comes amid growing tensions between North Korean and South Korea with both sides accusing each other of escalating the situation. South Korea blames North Korea for developing its missile program, while Pyongyang views military exercises performed by Seoul alone and the joint ones with its allies as a threat.

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