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Korea issues transaction alert for entities blacklisted by US
By YonhapPublished : Aug. 28, 2017 - 16:49
South Korea on Monday issued a special warning on transactions with 20 Chinese, North Korean and other foreign entities and individuals that were put on the United States' sanctions list for helping finance the North's development of nuclear weapons.
The companies and individuals under the latest transaction alert are those that were blacklisted by the US' past two sanctions lists adopted June 29 and Aug. 22 in connection with North Korea's development of weapons of mass destruction.
They include several Chinese companies and individuals, North Korean entities and a Singapore-based company as well as Russians.
The companies and individuals under the latest transaction alert are those that were blacklisted by the US' past two sanctions lists adopted June 29 and Aug. 22 in connection with North Korea's development of weapons of mass destruction.
They include several Chinese companies and individuals, North Korean entities and a Singapore-based company as well as Russians.
"Special attention should be needed in transactions with the aforementioned blacklisted entities and a money laundering suspect which could result in a restriction of their access to the American financial system, damage of reputation, as well as other disadvantages," the announcement listed in the intra-governmental gazette said.
This latest measure is intended to prevent any damage to South Korean nationals, companies and financial institutions which could be inflicted by having deals with US-blacklisted entities, the Ministry of Foreign Affairs said. (Yonhap)
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