ⓒYONHAP News

South Korea has announced its own sanctions against North Korea for the first time in five years, placing 15 North Korean individuals and 16 institutions on its blacklist.

The government said on Friday that it decided to impose sanctions against individuals and organizations that contributed to the development of the North's nuclear and missile programs or sanctions evasion. 

In announcing the fresh sanctions, the foreign ministry slammed the North for conducting its recent series of missile launches at an unprecedented frequency and for adopting laws that authorizes preemptive nuclear strikes when it deems necessary, against what it calls “hostile forces,” which includes South Korea and the U.S.

It marks the South's first unilateral sanctions against the North since December 2017, when the Moon Jae-in administration slapped sanctions against 12 North Korean individuals and 20 entities.

Under the sanctions, financial or foreign exchange transactions with the blacklisted individuals and organizations are banned, barring authorization from the Seoul government.