Tensions have reached alarming levels on the Korean peninsula after several missile launches by North Korea - KCNA VIA KNS/AFP/File
CAIRO – 10 December 20117: The South Korean government added 20 North Korean companies and 12 individuals on its black list on Sunday as part of its sanctions program which aims to diminish funding used to develop Pyongyang's nuclear and missile programs, according to Yonhap News.
A South Korean official said that the new sanction, which will start on Monday, will come under international pressure on the isolated North Korean regime that threatens the world with weapons of mass destruction.
The South Korean Foreign Ministry official added that the new sanctions are expected to prevent the flow of illegal funding into North Korea.
The sanctions include several companies such as Rasun International Commercial Bank, Agricultural Development Bank, International Industrial Bank and Koryo Commercial Bank, as well as Korea's Daepong and Yusong Shipping Company.
The sanctions come after North Korea conducted its sixth nuclear test on September 3 and also launched a sophisticated intercontinental ballistic missile capable of striking the mainland of the United States on Nov. 29.
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