North Korea says it "fully rejects" the latest United Nations sanctions as a "hostile act" and will continue its nuclear weapons development.
A Foreign Ministry spokesman made the comments in a statement carried by its official KCNA news agency on June 4, after the UN Security Council adopted a resolution imposing new targeted sanctions on North Korean officials and entities.
The text imposes travel bans and asset freezes on 14 North Korean officials, including Cho Il U, who is believed to be in charge of Pyongyang's overseas spying operations.
Four entities, including the national Koryo Bank, are also subject to a global asset freeze under the resolution.
According to a South Korean government database, Koryo Bank handles overseas transactions for a secretive body that manages the private slush funds of the North Korean leadership.