Japan, Planning to Promote a Measure on Applying Economic Sanctions Against North Korea

Yomiuri Newspaper reported on 30th that Japan`s high authority government party, the Liberal Democratic Party, is promoting revisions of their foreign exchange policy and foreign country commerce trade policy in order to take an independent economic sanction against North Korea including the stoppage of any remittance to North Korea.

The Liberal Democratic Party is planning to add a prerequisite of `conditional if there arises a big anxiety in National Security` to the current existing law which is based on the principles of Free Trade, thus able to restrict foreign business or trade with North Korea if necessary.

This measure will be submitted at the regular session of National Assembly reopening in next month as a government legislative form. If the revision gets approved in the Assembly, the government, apart from the UN`s resolution, it will be able to activate restrictions on stoppage of any remittance to North Korea upon their independent decision.

According to the current existing law, the regulations on foreign remittance, capital business and trade with foreign countries are allowed to be practiced when fulfillment of any international agreement, which Japan is affiliated with, is required or when it`s needed in effort to keep the peace of the international world.

Young-Ee Lee yes202@donga.com