South Korea said it will announce its own punitive steps against North Korea this week over its latest nuclear and missile tests, lending support to the latest United Nations Security Council (UNSC) sanctions.
The South Korean government is expected today to unveil a list of North Korean officials and institutions that will be barred from trading with South Korean companies and banks, sources say. South Korea will also freeze their assets here if there are any.
The North Korean figures and institutions subject to the South’s own sanctions are separate from the 16 individuals and 12 entities blacklisted by the U.N Security Council in the latest resolution.
South Korea will also ban the entry of ships from other nations if the vessels have visited North Korea, or if the vessels are suspected of originating from the repressive state but are flying other countries’ flags.
Meanwhile, speculation is growing that South Korea will scrap the so-called “Rajin-Hassan Project,” a logistics project involving North Korea and Russia. The project is aimed at importing Siberia-produced coal by transporting it by train between Russia’s border town of Rajin and North Korea’s port in Hassan and then loading the coal on to ships.
[The Korea Times]