Seoul: South Korea imposed independent sanctions on a freight ship, its Hong Kong-based operator, and three related entities on Thursday. This action is in connection with the ship's internationally banned transport of North Korean iron ore last year, the foreign ministry stated.
According to Yonhap News Agency, the sanctions follow a joint government investigation into the vessel Sunrise 1, which was detained while sailing through South Korea's territorial waters in June last year, carrying North Korean iron ore. The ministry noted that the supply, sale, or transfer of North Korean iron ore, as well as coal and iron, is prohibited under U.N. Security Council Resolution 2371 as part of international sanctions over its nuclear weapons and missile development.
The four sanctioned entities include Xiangrui Shipping Co. Ltd., a Hong Kong-registered shipping firm responsible for Sunrise 1, and two Chinese operators of the firm, Sun Zhengzhe and Sun Feng. Additionally, LLC Consul DV, the Russia-registered consignor, is also sanctioned, according to the ministry.
The new sanctions mandate that these entities obtain prior approval from South Korea's Financial Services Commission or the governor of the Bank of Korea for any financial or foreign currency transactions with South Korean banks and financial institutions. Furthermore, the sanctioned ship must secure prior approval before entering a South Korean port.
Results from the joint government investigation, which involved the foreign ministry, the Coast Guard, customs authorities, and the national spy agency, revealed that Sunrise 1 entered North Korea's Chongjin port on the upper eastern coast from June 14-17 last year and loaded 5,020 tons of iron ore. LLC Consul DV was identified as the freight's consignor.
After its detainment by the South Korean government, the sanctioned freighter was held at the southeastern port of Busan for investigation. The government plans to expel the ship soon.
Thursday's action underscores the government's commitment to "strong determination to block any illegal maritime activities by North Korea." The foreign ministry emphasized that the government will "firmly and consistently enforce the law against those involved in sanctions violations, in collaboration with like-minded countries."
In a similar move in July last year, South Korea imposed sanctions on a Hong Kong shipping company and a North Korean cargo ship for the illegal transfer of North Korean coal.