[Asia Economy Reporter Yoo In-ho] South Korea, the United States, and Japan are expected to unveil independent sanctions against North Korea in response to its nuclear and missile provocations.
With North Korea's 7th nuclear test only awaiting the decision of Kim Jong-un, General Secretary of the Workers' Party, the three countries plan to strongly pressure North Korea through independent sanctions in addition to the UN Security Council's additional sanctions.
According to diplomatic sources on the 18th, the foreign ministers of South Korea and the U.S. recently held a bilateral meeting and issued a strong warning by announcing preparations for short- and long-term military readiness against North Korea, which is on the verge of conducting its 7th nuclear test. This was a warning aimed at Kim Jong-un, questioning whether he would face strong pressure from the South Korea-U.S. alliance by proceeding with the nuclear test or come to the dialogue table for unconditional and complete denuclearization.
Foreign Minister Park Jin and U.S. Secretary of State Antony Blinken held a South Korea-U.S. foreign ministers' meeting in Washington D.C. on the 13th (local time) and stated at a press conference, "If North Korea conducts a nuclear test, it will face a swift and resolute response."
Secretary Blinken expressed concern over the possibility of North Korea's 7th nuclear test, saying, "We are not letting our guard down at all," and warned, "The U.S. is prepared for all emergencies and is ready to adjust appropriate short- and long-term military readiness."
In response, the Ministry of Foreign Affairs stated that if North Korea proceeds with the nuclear test, it will prepare not only new UN Security Council sanctions but also additional independent sanctions.
An official from the Ministry of Foreign Affairs emphasized, "Our government is closely monitoring North Korea's additional provocations, including preparations for nuclear tests at Punggye-ri, in close cooperation with the U.S. government," and added, "If North Korea carries out a nuclear test, our government plans to consider various measures, including new Security Council sanctions and additional independent sanctions."
If our government implements independent sanctions, it will be the first independent sanctions measure in four and a half years. The government previously imposed independent sanctions in response to North Korea's 6th nuclear test in September 2017.
At that time, on November 6, 2017, the government designated 18 individuals involved in North Korea's weapons of mass destruction and ballistic missile development as sanction targets, and on December 11, it designated 20 organizations and 12 individuals. This was done by additionally designating 20 North Korean organizations such as financial institutions and shipping companies included in the U.S. sanctions list, as well as 12 North Korean individuals, as targets of South Korean sanctions.
This was the last independent sanction imposed by our government. Since then, for four and a half years, the government has not used the independent sanctions card at all.
Ahead of North Korea's 7th nuclear test, South Korea and the U.S. hold a firm stance on independent sanctions. Independent sanctions are a card to tighten the sanction net and close gaps in multilateral sanctions such as Security Council resolutions.
South Korea's independent sanctions plan is likely to be aligned with the U.S. approach.
In the past, individuals and organizations designated by the U.S. for independent sanctions against North Korea were often jointly sanctioned by South Korea, Japan, and the European Union to enhance the effectiveness of sanctions.
However, considering North Korea's continuous military provocations since the independent sanctions in 2017, the direct effect is not significant. Unlike the U.S.'s independent sanctions, which have strong international influence due to the dollar's status as the global reserve currency, South Korea's independent sanctions have more symbolic effects such as expressing the government's will.
Diplomatic circles expect that the leaders of South Korea, the U.S., and Japan will meet at the NATO summit to be held in Madrid, Spain, on the 29th and 30th, and discuss independent sanctions measures.
If the U.S. prepares strong independent sanctions measures, it is expected that South Korea and Japan will join in to solidify the sanction net.
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