South Korea Sanctions Shipping Company, Vessel for Violating North Korea Restrictions
South Korea sanctioned Hong Kong-based shipping company HK Yilin Shipping Co. and the North Korean-flagged vessel, called Tok Song, for violating sanctions on North Korea, the Ministry of Foreign Affairs announced July 18, according to an unofficial translation. A vessel…
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owned by Yilin Shipping took coal from Tok Song in March in a ship-to-ship transfer off North Korea's coast, the ministry said. Future financial exchanges with the shipping company will require prior approval from South Korea's Financial Services Commission or the Governor of the Bank of Korea. The government said it "will continue to take strong and consistent law enforcement measures against ships and shipping companies involved in the transport of prohibited goods."