South Korea has unveiled a new set of unilateral sanctions aimed at completely shutting off
the regime's foreign currency earnings.
It comes in the form a blacklist... which includes scores of key aides to North Korean
leader Kim Jong-un.
Our Connie Kim is live at the Prime Minister's Office in downtown Seoul.
Connie, so a fresh set of independent sanctions slapped on the North by South Korea just a
day after the UN Security Council's adoption of a new resolution.
Right, Connyoung.
South Korea has been quick in turning the screw a little tighter on North Korea.
Its new unilateral sanctions on the regime came less than 48 hours after the UN Security
Council adopted its latest resolution on Pyongyang.
The prime minister's office said it hopes the announcement will encourage more countries
to issue their own independent sanctions.
“South Korea has been playing a leading role for the U.S., Japan, Australia and the
European Union to lay out their own unilateral sanctions... in that Seoul has decided to
impose another set of new unilateral sanctions on top of the independent sanctions it imposed
on March eighth."
Thirty-five new entities and 36 new individuals are targeted in the latest set of sanctions,...
including the ruling Worker's Party of Korea... and two key aides to North Korean leader Kim
Jong-un -- Workers' Party of Vice Chairman Choe Ryong-hae and Vice Marshal Hwang Pyongy-so.
It's also worth noting that Seoul has blacklisted a Chinese firm for the first time.
The name Dandong Hongxiang Industrial Development may sound familiar,... as it was also sanctioned
by the U.S. in September for aiding the North's missile program.
Under Seoul's latest sanctions, clothing manufactured in North Korea and eleven more North Korean
minerals will be banned.
Foreign vessels that have docked in North Korea will be prevented from coming into the
South for a year ... and blacklisted individuals coming from a third country will be banned
from entering the South.
Seoul says its new package of sanctions is significant...
in that it expands Seoul's blacklist and helps raise awareness in the international community,
but some have raised concerns that it could severely reduce opportunities to mend inter-Korean
relations in the future.
Connie, we've also heard from the U.S. and Japan that they too have drafted unilateral
sanctions against North Korea.
Any development on that front?
Japan was swift in announcing its independent sanctions this morning and its chief cabinet
secretary says it will consider additional measures depending on Pyongyang's actions.
"Our position is to consistently take the direction of using dialogue and pressure,
actions against actions, until North Korea decides to take specific steps toward solving
problems relating to its nuclear and missile development and others such as the abduction
issue, which are of paramount importance."
Tokyo says it will expand its blacklist to include individuals that have visited North
Korea.
It will also ban all ships that have called at ports in North Korea and freeze the assets
of entities and individuals linked to the North's nuclear weapons program.
The U.S. will quickly follow suit, unveiling its independent set of sanctions soon.
Washington will reportedly blacklist a North Korean entity that contributes to the North's
coal and labor exports.
It's also likely the U.S. will blacklist firms accused of supporting the North's nuclear
weapons program like it did with China's Dandong Hongxiang Industrial Development in September.
But many North Korea watchers in Seoul tell me the effects of the sanctions will all come
down to whether China actively joins in on the move.
Remember, Beijing accounts for more than 70 percent of North Korea’s trade and provides
most of its food and energy supplies.
Connyoung?
Right, experts have repeatedly pointed to China as being key in the success of sanctions
against North Korea.
But, just hours ago...
Beijing's foreign ministry said it opposes South Korea, U.S., and Japan's move to slap
unilateral sanctions against the North.
Whether the sanctions route will work this time around remains to be seen.
Thanks, Connie for that.
Our Connie Kim live from the South Korean Prime Minister's Office.