Key developments following North Korea’s rocket launch

South Korean Unification Minister Hong Yong-Pyo speaks during a press conference at the government building in Seoul, South Korea, 10 February 2016.

South Korea has 124 companies at the complex, a lot of them small- and medium-sized firms, employing 54,700 North Korean workers as of August, whose wages are paid to a North Korean state agency. China, North Korea’s main political ally and economic benefactor, has reportedly cut coal and iron ore imports from the neighboring country amid falling raw material prices worldwide.

USA senators are expected to vote on more stringent sanctions against North Korea, targeting Pyongyang’s ability to access the money it needs for developing miniaturized nuclear warheads and the long-range missiles to deliver them.

The Unification Ministry, which is responsible for relations with North Korea, said in a statement that the government had “decided to completely shut down” the park.

He said the sanctions will be approved by the Cabinet later and will require legislative changes in parliament.

The news on Wednesday followed South Korea’s announcement that it would suspend operations at a jointly run factory park just inside North Korea, in a move to cut off an important source of revenue for the impoverished North. That assessment is based on Pyongyang’s efforts to manufacture nuclear-tipped missiles capable of striking the USA mainland and that the technology used to launch a rocket carrying a satellite into space can be applied to fire a long-range missile. The launch, which came about a month after the country’s fourth nuclear test, was quickly condemned by world leaders as a potential threat to regional and global security.

Russian Federation warned South Korea against deploying a USA anti-missile defense system on the peninsula, joining a chorus of opposition that includes China and North Korea regarding THAAD, also known as Terminal High Altitude Area Defense.

He said North Korea was suspected of spending funds from the complex on advancing its nuclear weapons and long-range missiles programmes.

North Korea already faces wide-ranging sanctions from the United States and under existing U.N. resolutions is prohibited from trading in weapons and importing luxury goods.

Months before the execution, Ri could be seen accompanying President Kim Jong Un on several inspection trips related to the military.