The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Scientists find green way to turn CO2 into fuel with sunlight

  • 3

    BLACKPINK's contract renewal still in limbo

  • 5

    Kim Jong-un's rejection of Russia's food assistance irritates North Korean defectors

  • 7

    Family of 5 found dead in 3 separate locations

  • 9

    INTERVIEWVirtual K-pop group MAVE: is more than just pretty pixels

  • 11

    Korea boosts subsidies to rev up falling EV sales

  • 13

    Lawmakers want to grill business tycoons over decision to rejoin FKI

  • 15

    Arrest warrant hearing for DPK leader Lee to be held Tuesday

  • 17

    Appellate court upholds 9-yr prison term for man over filming, distributing sexual videos featuring women

  • 19

    Gov't reviews changing description of Fukushima wastewater

  • 2

    N. Korea holds politburo meeting to discuss Kim-Putin summit: KCNA

  • 4

    BTS member Suga begins mandatory military service

  • 6

    Xi says he will seriously consider visit to South Korea: official

  • 8

    Opposition party in turmoil as leader could be arrested on Tuesday

  • 10

    Foreign employees rewarded for contribution to Korea's shipbuilding industry

  • 12

    Russia lodges protest to S.Korean envoy over Yoon's UN speech

  • 14

    Disney+ aims to expand investment in original Korean content

  • 16

    Hebrew University students travel to Korea to explore musical landscape

  • 18

    Yoon signs off on plan to waive expressway tolls during Chuseok holiday

  • 20

    Korea hammers Thailand to clinch men's football knockout berth

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
North Korea
Sun, September 24, 2023 | 15:24
Hard currency should be cut off to North Korea
Posted : 2017-11-06 18:20
Updated : 2017-11-06 21:39
Kim Jae-kyoung
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
This is the fourth in a series of interviews with international experts to seek ways toward a peaceful resolution for North Korean nuclear crisis on the occasion of the 67th anniversary of The Korea Times, which falls on Nov. 1. ― ED.

By Kim Jae-kyoung

Sean King
Sean King
The best way to force North Korea to change is to cut off hard currency to the reclusive country, says Sean King, senior vice president of Park Strategies.

"Our most effective peaceful strategy is to starve Kim's regime of the hard currency it needs to acquire and maintain its weapons and keep itself afloat," King said in a recent interview.

"Peaceful regime change by all means should be the goal because regime change is the only way out of this (nuclear standoff)."

He stressed the importance of regional and international cooperation in order to block financial resources to North Korean leader Kim Jong-un.

The first thing to do in his view is strengthen monitoring of North Korean diplomats' activities.

"Cracking down on Pyongyang's diplomatic corps is key, as its embassies function as an overseas office network for the multinational criminal enterprise that North Korea is," he said.

At the same time, he urged the U.S. and its allies to pursue secondary sanctions.

"We should further immediately implement in full the secondary sanctions that U.S. President Trump announced with much fanfare at the United Nations General Assembly in September," he said.

He explained that while there have been sanctions against a small bank and some individuals, they haven't gone after the major mainland Chinese entities and banks that keep North Korea in business.

The New York-based political and East Asia specialist said it is important to let all the sanctions take hold before rushing to say they haven't worked.

"Fact is, Kim Jong-un won't, or can't, give up his nukes. Otherwise, he's but a poor man's South Korea without the means to compel America into negotiations and direct talks around the South," he said.

Trump's visit a crucial point for North Korea issues
Trump's visit a crucial point for North Korea issues
2017-11-06 16:30  |  Foreign Affairs

He pointed to the fact that Kim's own stated goal is to separate South Korea from the U.S., thereby exposing the South to some forced confederation or a second North Korean invasion.

"This is why Kim's nukes are in fact, ultimately offensive in nature," he said.

S. Korea should take lead

Against this backdrop, the former U.S. official believes any attempts for talks should be delayed until Pyongyang stops its provocative actions.

"Now is not the time to talk to North Korea. Rather, it's time to fully enforce the recent United Nations sanctions and to push for new ones. For example, a full oil embargo," he said.

He does not advise talks between Washington and Pyongyang even if North Korea wants them. He thinks South Korea should take the lead in any talks with the North.

"For that matter, we must always rebuff and resist Pyongyang's constant efforts to marginalize and delegitimize Seoul," he said.

The expert on North Korea said America has to stay the course, in concert with our allies, as they are only scratching the surface of what real sanctions can do.

"For example, in lieu of a formal United Nations oil embargo, why not at least, deny U.S. correspondent bank access to any mainland Chinese oil company supplying North Korea?" he said. "That would get Beijing's attention more than any presidential tweet might."

King praised Mexico, Kuwait, the European Union and many others for expelling North Korean diplomats recently and curtailing business with Pyongyang.

"Moves like denying landing rights to North Korean carrier Air Koryo, rescinding orders for monuments and statues built by Pyongyang's Mansudae Overseas Project Group of Companies and sending home North Korean slave laborers send powerful signals of worldwide revulsion at North Korea's actions and deny Kim Jong-un's regime valuable hard currency," he said.

In particular, he called on major ASEAN nations to curb exchanges with North Korea because the North's diplomats and agents are carrying out illegal activities in the region to evade sanctions and earn hard currency.

Citing the murder of Kim Jong-nam, half-brother of Kim Jong-un, at Kuala Lumpur International Airport, he said Pyongyang's rampant cross-border criminality poses a threat to Southeast Asia.

"I'm happy to see Malaysia's halted all North Korean imports and banned its citizens from visiting North Korea while the Philippines say it's cut off all trade with Pyongyang," he said.

"Let's now hope other ASEAN powers like Singapore and Indonesia follow suit. All ASEAN countries should without further delay cease all trade with North Korea and expel all North Korean diplomats."

ASEAN refers to the Association of Southeast Asian Nations, consisting of 10 members — Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Laos, Thailand and Vietnam.



Emailkjk@ktimes.com Article ListMore articles by this reporter
 
miguel
Top 10 Stories
1Scientists find green way to turn CO2 into fuel with sunlightScientists find green way to turn CO2 into fuel with sunlight
2Kim Jong-un's rejection of Russia's food assistance irritates North Korean defectors Kim Jong-un's rejection of Russia's food assistance irritates North Korean defectors
3Opposition party in turmoil as leader could be arrested on Tuesday Opposition party in turmoil as leader could be arrested on Tuesday
4Foreign employees rewarded for contribution to Korea's shipbuilding industry Foreign employees rewarded for contribution to Korea's shipbuilding industry
5Korea boosts subsidies to rev up falling EV sales Korea boosts subsidies to rev up falling EV sales
6Russia lodges protest to S.Korean envoy over Yoon's UN speech Russia lodges protest to S.Korean envoy over Yoon's UN speech
7Lawmakers want to grill business tycoons over decision to rejoin FKI Lawmakers want to grill business tycoons over decision to rejoin FKI
8Gov't reviews changing description of Fukushima wastewater Gov't reviews changing description of Fukushima wastewater
9'Songpyeon' for low-income families 'Songpyeon' for low-income families
10Big insurers up for sale, but financial conglomerates appear disinterestedBig insurers up for sale, but financial conglomerates appear disinterested
Top 5 Entertainment News
1TEMPEST gears up to showcase fiery passion TEMPEST gears up to showcase fiery passion
2BLACKPINK's contract renewal still in limbo BLACKPINK's contract renewal still in limbo
3[INTERVIEW] Virtual K-pop group MAVE: is more than just pretty pixels INTERVIEWVirtual K-pop group MAVE: is more than just pretty pixels
4Hebrew University students travel to Korea to explore musical landscape Hebrew University students travel to Korea to explore musical landscape
5[INTERVIEW] Seoul's increased art market momentum brings Sotheby's back to Korea INTERVIEWSeoul's increased art market momentum brings Sotheby's back to Korea
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group