Key developments following North Korea’s rocket launch

North Korea’s launch of a long-range rocket has drawn sharp condemnations and threats of new sanctions. World leaders say Sunday’s launch violated a U.N. ban on Pyongyang’s use of ballistic missile technology. North Korea says the launch of a new Earth observation satellite, the Kwangmyongsong 4, or Shining Star 4, is part of a peaceful space program.
A look at the latest developments on Wednesday:
SOUTH KOREA PULLS OUT OF JOINT INDUSTRIAL PARK
South Korea said it was suspending operations at a joint industrial park with North Korea, the first time in the park’s decade of operation that Seoul has halted work.
South Korean Unification Minister Hong Yong-pyo said the suspension at the industrial complex in the North Korean border city of Kaesong would stop the North from using hard currency earned there to develop nuclear and missile technology.
The park, which started operations in 2004, has provided 616 billion won ($560 million) of cash to North Korea, Hong said.
There was no immediate reaction from North Korea.
The park is the last major cooperation project between the rivals. Combining South Korean initiative, capital and technology with the North’s cheap labor, it has been seen as a test case for reunification. Last year, 124 South Korean companies hired 54,000 North Korean workers to produce socks, wristwatches and other goods.
This item has been corrected to show that the park began operations in 2004.
JAPAN ANNOUNCES NEW SANCTIONS
Japan’s Chief Cabinet Secretary Yoshihide Suga said his country will impose new sanctions on North Korea.
He said the sanctions will be approved by the Cabinet later and will require legislative changes in parliament.
The measures will include expanded restrictions on travel between the two countries and a complete ban on visits by North Korean ships to Japanese ports.