South Korea has imposed sanctions on 11 individuals and 15 organizations for their involvement in military cooperation between Russia and North Korea, financing of the DPRK's nuclear and missile programs, and illegal purchase of sanctioned goods by Pyongyang.
Points of attention
- South Korea has imposed sanctions against individuals and organizations involved in military cooperation between Russia and North Korea.
- The sanctions committee's list includes Russian generals and companies that contributed to the DPRK's missile program.
- The United States is also responding to the situation by approving new restrictions on individuals providing support to the DPRK.
- Sanctions are intended to prevent the financing of military programs and control trade with restricted entities.
- The restrictions are scheduled to take effect on December 19 and require government authorization for financial transactions with sanctioned individuals.
What is known about South Korea's sanctions against North Korea and Russia?
The sanctions list includes Korean People's Army generals Kim Yong-bok and Sin Gim-chol, as well as rocket engineer Ri Song-jin and another high-ranking KPA official, Ri Bong-chun.
In addition, several businessmen and companies were sanctioned, including Roman Alar and his Parsek LLC, which, according to information, supplied North Korea with important materials and technologies for its missile program.
In total, the list includes 7 Russians and 13 organizations, including several banks. Financial or currency transactions with these entities now require permission from the Seoul government.
The restrictions will come into effect from December 19.
The South Korean Foreign Ministry emphasized that these sanctions are related to the statement by Western foreign ministers on December 16, which condemned military cooperation between Russia and the DPRK.
US adopts new sanctions against Russia and North Korea
The US Treasury Department's Office of Foreign Assets Control (OFAC) on December 16 imposed sanctions against 9 individuals and 7 entities that provided financial and military support to the DPRK.
Who is on the new sanctions lists?
Golden Triangle Bank (GTB) is one of the largest financial institutions in the Rason Special Economic Zone of the DPRK. As a state-owned company of the DPRK government, GTB is used by foreigners to exchange foreign currency for local currency for use in the DPRK.
Korea Mandal Credit Bank (KMCB) is a financial institution headquartered in Pyongyang that maintains a network of representatives operating throughout China. KMCB has facilitated the procurement of goods for organizations supporting the DPRK’s WMD program.
Choe Chol-ryong (Choe) is a representative of the US-designated Korean banking corporation Kwangson Banking Corporation (KKBC) in Dandong, China. In this capacity, Choe was involved in the smuggling of cash between China and the DPRK.
Kim Myung-jin (Kim) is a representative of the US-designated Korea Daesong Bank (KDB) in Beijing, China. Kim is the DPRK’s top financial representative and plays a key role in facilitating Pyongyang’s illicit financial activities outside the DPRK.
Ri Chang-ho (Ri) is the head of the North Korean Main Intelligence Bureau (RGB) and one of the DPRK generals known to accompany thousands of DPRK troops deployed to Russia to support Russia’s war in Ukraine. As head of the RGB, Ri has engaged in lucrative activities and raised funds to support the DPRK’s weapons of mass destruction activities.
Ju Chang-il (Ju) is the director of the Propaganda and Agitation Department (PAD) of the Workers' Party of Korea (WPK). The PAD is involved in or responsible for censorship of the North Korean government, and is the main agency responsible for both newspaper and broadcast censorship.
Kim Yong-Bok is a senior general in the Korean People's Army, who is accompanying DPRK troops sent to Russia.
Pak Jong-jong (Pak) is the vice chairman of the WPK Central Military Commission based in the DPRK. In his role, he has participated in public events related to the DPRK's ballistic missile program, including a tour of a weapons factory, a submarine launch, and an official visit to Russia.
Im Song Jin (Im) is a professor of physics at Kim Il Sung University. He is listed under EO 13810 as a North Korean national, including a North Korean national who has engaged in commercial activities that generate revenue for the Government of North Korea or the WPK.
Kim Geum Chol is the president of Kim Il Sung Military University, the main military educational institution of the DPRK.
Ro Kwang Chol (Ro) is the current Minister of National Defense of the DPRK, who assumed this position in October 2024.
The US sanctions list also includes Russian companies that supply oil to the DPRK:
Vostok Trading LLC (“Vostok”), DV Inc LLC (“DV Inc”), and Novosibirskoblgaz LLC are Russian foreign trade companies that shipped thousands of tons of oil and gas to the DPRK starting in 2022 and continuing until at least April 2024.
JSC "Sibregiongaz" is the parent company in Russia and 100% owner of LLC "Novosibirskoblgaz".
Okryu Trading Company (Okryu) is a North Korean foreign trade company that has received thousands of tons of oil from Russia. Okryu is designated under EO 13810 to operate in North Korea's transportation sector.
As a result of today's action, all property and interests in the property of the individuals described above that are in the United States or owned or controlled by U.S. persons are blocked.
