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South Korea Weighs Next Steps After U.S. Sanctions North Korean Crypto Laundering Network

Officials warn stolen cryptocurrency can fund Pyongyang’s weapons programs, elevating the push for tighter coordination.

Overview

  • Washington’s latest action names eight individuals and two entities, including Korea Mangyongdae Computer Technology Company and its president U Yong Su, for laundering crypto tied to DPRK hacks.
  • Treasury also identified bankers Jang Kuk Chol and Ho Jong Son and sanctioned Ryujong Credit Bank, alleging facilitation of illicit funds that support weapons development.
  • Second Vice Foreign Minister Kim Ji-na said Seoul can review its own sanctions if necessary and emphasized close coordination with the United States on countering crypto theft.
  • Vice-Foreign Minister Kim Un-chol condemned the measures as evidence of U.S. “wicked” hostility and vowed to counter them, a stance analysts described as notably restrained.
  • South Korea said the United States is still refining a joint fact sheet from the recent LeeTrump summit, with wording under internal review.