Seoul: South Korea announced it is imposing independent sanctions on 15 individuals and 132 entities over their illicit involvement in transnational crimes in Southeast Asia, primarily online scams that have targeted South Korean nationals.

According to Yonhap News Agency, the sanctions are part of Seoul's efforts to tackle organized crimes in the region, following the death of a South Korean college student tortured by an online job-scam ring in Cambodia. This incident prompted the government to address the issue and marks the first time South Korea has imposed sanctions over transnational crimes in Southeast Asia.

The sanctions target scam organizations and their members involved in luring and abducting South Koreans, including Prince Group and Huione Group, as well as their affiliates, the foreign ministry stated. Under the sanctions, their assets in South Korea, including cryptocurrency holdings, will be frozen, and financial transactions in the country will be restricted. The designated individuals are banned from entering South Korea.

Prince Group is linked to online scam operations in Cambodia's Prince Complex and Mango Complex, where South Koreans have been lured with high-paying job offers. Huione Group operates banks and a payment platform suspected of facilitating money laundering for online scam rings.

The entities are based in regions including Cambodia, Hong Kong, Taiwan, Singapore, and the British Virgin Islands. Two Chinese nationals have also been sanctioned: a ringleader of a scam organization in Cambodia's Bohai region, and a member of a criminal group suspected in the assault and death of the South Korean student.

Prince Group has been sanctioned by the United States and Britain, while Huione Group was recently designated by the U.S. Department of the Treasury for concerns over money laundering. The South Korean government is making comprehensive efforts to respond to transnational crimes threatening citizens' lives and property.

South Korea has signed a memorandum of understanding with China to cooperate on countering voice phishing and online fraud, following summit talks between President Lee Jae Myung and Chinese President Xi Jinping. Additionally, an MOU with Cambodia will create a task force within the Cambodian police to combat similar crimes targeting South Koreans and enhance citizen protection.