SEOUL, Nov. 8 (Korea Bizwire) — South Korean refiners and petrochemical companies are struggling to diversify imports of ultralight crude following the U.S. reimposition of sanctions on Iran over its nuclear program, industry sources said Thursday. Washington on Monday reinstated all Iranian sanctions removed under the 2016 nuclear deal but allowed South Korea and seven [...]
WASHINGTON, March 31 (Korea Bizwire) – The United States blacklisted one North Korean trading firm and 11 individuals Friday as it further tightens the financial screws on Pyongyang over its nuclear and missile programs. Paeksol Trading Corp. was sanctioned for involvement in trading in North Korean coal and minerals, a key source of hard currency [...]
SEOUL, Feb. 7 (Korea Bizwire) – A resumption of the now-shuttered joint industrial complex could spark a row over the breaking of the latest U.N. sanctions resolutions against North Korea, a government official said Tuesday. With the shutdown of the Kaesong Industrial Complex marking the first anniversary this week, whether to resume the factory zone [...]
SEOUL, Dec. 2 (Korea Bizwire) – South Korea unveiled a set of its own punitive measures against North Korea on Friday, blacklisting scores of people and entities suspected of supporting the regime’s nuclear and ballistic missile programs. The move came days after the United Nations Security Council (UNSC) unanimously adopted Resolution 2321 on Wednesday condemning [...]
SEJONG, July 28 (Korea Bizwire) – North Korea’s economy could face stronger shocks if international sanctions on the communist country persist, a report said Thursday. North Korea is under the toughest U.N. sanctions ever over its fourth nuclear test and its long-range rocket launch earlier this year. The sanctions call for, among other things, the [...]
SEOUL, June 21 (Korea Bizwire) – North Korea appears to be undergoing difficulties in the import of some machinery equipment due to the stringent international sanctions slapped on the country earlier this year. The news was disclosed Tuesday in an article by the country’s main newspaper, Rodong Sinmun, which introduced an army tree nursery on [...]
SEOUL, June 7 (Korea Bizwire) – North Korean party officials have visited Vietnam and Laos, the North’s state media said Tuesday, apparently as part of the North’s diplomatic effort to break the international sanctions regime. The delegation, led by Choe Thae-bok, a vice chairman of the ruling party’s central committee, arrived in Vientiane on Monday [...]