Seoul Sanctions Pyongyang Over Funding Nuke, Missile
Date
12/26/2024 2:07:05 AM
(MENAFN- Kuwait News Agency (KUNA))
TOKYO, Dec 26 (KUNA) -- South Korea said Thursday it will impose sanctions on 15 North Korean IT workers and one entity over their roles in the illicit cyber activities to fund the country's nuclear and missile development, Yonhap News Agency reported.
Fourteen of the 15 individuals are suspected of working overseas to earn foreign currencies through illegal cyber activities, such as crypto theft, to fund the North's nuclear and missile development banned under multiple UN Security Council resolutions, Seoul's Foreign Ministry said in a press release.
All 15 belong to the General Bureau 313 of the North's Munitions Industry Department, in charge of weapons production and related research and development, the report said, adding that the department is also subject to the UN sanctions.
The North stole approximately USD 1.3 billion in cryptocurrency in 2024, accounting for 61 percent of the global crypto theft for that year, according to an analysis by the global blockchain analytics firm Chainalysis.
The 2024 UN Panel of Experts report assessed that North Korea spent 40 percent of the money earned from the crypto theft on its programs for weapons of mass destruction. The sanctions will take effect Monday. (end)
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