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S.Korea submits list of NK entities subject to UN sanctions

S.Korea submits list of NK entities subject to UN sanctions

Posted April. 26, 2012 05:22,   

한국어

South Korea has submitted to the U.N. Security Council`s Sanctions Committee a list of 19 North Korean institutions and groups for sanctions. The council issued a statement April 16 in response to the North`s long-range rocket launch.

A high-ranking council official said Wednesday that he obtained information that Seoul was making a list of North Korean institutions and groups for imposing sanctions as recommended by the experts panel under the council. Six countries including South Korea, the U.S., Japan and eurozone countries submitted the list, he added. The U.S. requested an asset freeze for 17 North Korean institutions and groups, while Japan also submitted its own list.

The U.N. Security Council has been listing the overseas bank accounts of North Korean institutions that do overseas transactions as well as those potentially being involved in trading nuclear and missile development, conventional weapons and luxury goods. Once institutions are designated for sanctions, their overseas assets are frozen.

Sanctions were imposed on three North Korean companies and banks in April 2009, while five people including North Korean Atomic Energy head Ri Je Son suffered the same fate in September the same year. Five institutions and groups were added, including Hong Kong Electronics.

South Korea is known to have referred to the blacklist that the Sanctions Committee`s expert panel came up with in May last year. Aprok River Development Bank, Global Interface, Haesung Trading and Korea Complex Equipment Import Corp. are a few of the 19 institutions and groups named.



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