S. Korea welcomes U.S. designation of N. Korea as 'primary money laundering concern'

South Korea welcomed Washington's latest step toward completely cutting banking ties with Pyongyang.
The U.S. Treasury Department designated North Korea as a "primary money laundering concern."
Here's what the spokesman for Seoul's Foreign Ministry had to say.


"The South Korean government highly evaluates the measure. It reflects Washington's resolute will to keep imposing strong unilateral sanctions on North Korea, along with the thorough implementation of UN Security Council Resolution 2270, to bring about actual change in North Korea, including the regime's denuclearization."

According to the ministry,... it's also noteworthy that the designation came months before Washington's deadline for reviewing its North Korea Sanctions Enforcement Act.
The government expects the designation to not only take a direct toll on North Korea's financial affairs,... but to also bring about indirect effects.
Other countries with U.S. bank accounts could be affected... if they do not stop transactions with Pyongyang.
Watchers say the designation could also be seen as a message to China to keep the pressure on the North.
According to a ministry official,... Seoul received no description from the U.S. of any particular country to be targeted.