It will be interesting to see if the claim of upcoming sanctions is true or not. I always figured that the Trump administration would wait until after the mid-term elections before taking any tough actions on the Korea front. This rumor may be a warning to the Moon administration that the US is ready to take action if Korea tries to do any banking deals with North Korea:
US Treasury Department
A rumor that the United States Treasury is considering including a Korean bank in a secondary boycott in early November has pushed down the shares of major financial institutes, although the country’s financial regulator and banks deny the claim.
A rumor surfaced early this week through Kakao Talk and other internet messengers that the U.S. Treasury Department will announce sanctions against a South Korean bank for illegally trading with North Korea before Nov. 6. While not specifying the bank, the rumor said that the bank was notified on Oct. 12.
The Financial Services Commission (FSC) refuted the claim on Wednesday, calling it a groundless rumor. Local banks echoed the denial.
“The rumor that the U.S. is pushing forward with a secondary boycott is not true as we confirmed with local banks,” said the regulator in a statement.
The measure was designed to punish third-party companies that engage in illicit trade with Pyongyang. [Joong Ang Ilbo]
You can read more at the link, but South Korean bankers have recently publicly said they will not do any business with North Korea until the sanctions are dropped.
Just wait. They’ll declare this as FAKE NEWS and then threaten people to throw people in jail for spreading lies.
This government has to go. Impeachment and nationwide protests is the only answer. Moon’s men are flirting with destroying South Korea’s future.