U.S. sanctions DPRK entity for WMD

WASHINGTON, July 31 (UPI) -- The U.S. Treasury Department sanctioned a subsidiary of Korea Ryonbong General Corp. for its involvement in the development of weapons of mass destruction.

The Treasury Department designated Korea Hyoskin Trading Corp. under Executive Order 13382 for its role in the development of weapons of mass destruction.

Executive Order 13382 freezes the assets of proliferators of weapons of mass destruction and isolates those entities from U.S. financial and commercial systems.

"The world community is taking forceful action against the arms and agencies of North Korea's WMD and missile programs, prohibiting dealings with them and banning them from participation in the global financial system," said Adam Szubin, director of the U.S. Office of Foreign Assets Control.

The U.N. Security Council Committee on July 16 designated Hyoskin for its role in North Korean WMD programs pursuant to U.N. Security Council Resolution 1718.

Resolution 1718 was adopted unanimously in October 2006. It imposes a series of economic and commercial sanctions on North Korea following a nuclear test on Oct. 9, 2006.

Ryonbong, the parent of Hyoskin, was sanctions under Resolution 1718 for its role in military-related sales to North Korean defense industries.

"We will continue to do our part to identify and sanction such entities," said Szubin.