Seoul supports a new UN sanctions resolution targeting North Korea - UOB

Analysts at UOB Group noted, that yesterday, The United Nations Security Council held an emergency meeting on Wed after North Korea tested its first intercontinental ballistic missile. 

Key Quotes:

"US ambassador to the UN warned that US will take military action against North Korea if necessary and called on China and Russia to do more to implement existing sanctions. Pyongyang’s actions are “quickly closing off the possibility of a diplomatic solution” but US prefers not to have to go in the direction of military measures. US will propose new sanctions against North Korea shortly. 

China and Russia expressed concern about North Korea’s latest provocation, but urged dialogue with North Korea and criticized the US for strong rhetoric and the deployment of the THAAD missile defense system in South Korea. 

South Korea ambassador to UN said that Pyongyang must renounce nuclear brinkmanship and step back from the point of no return. Seoul supports a new UN sanctions resolution targeting North Korea.

Ahead of the G20 meeting, the IMF said countries should work together to address trade imbalances that may be undermining the resilience of the global economy and straining relations."