U.S. President Donald Trump signed on Thursday an executive order aimed at further cutting off the funding for the Democratic

People's Republic of Korea (DPRK).

Calling the DPRK's nuclear and missile program "a grave threat to peace and security in our world," Trump told reporters the new executive order would cut off sources of revenue that fund the DPRK's nuclear program.

"The order enhances the (U.S.) Treasury Department's authorities to target any individual or entity that conducts significant trade in goods, services or technology (with the DPRK)," said Trump before a meeting with Japanese Prime Minister Shinzo Abe and South Korean President Moon Jae-in in New York.

The DPRK confirmed that it conducted another medium-range ballistic missile test last Friday.

The missile launch, which violates UN Security Council resolutions, came just days after the council imposed fresh sanctions on the DPRK over its nuclear test on Sept. 3.

Chinese Foreign Minister Wang Yi on Wednesday met with his South Korean counterpart Kang Kyung-wha and reiterated Beijing's demand for the removal of the Terminal High Altitude Area Defense (THAAD) missile shield.

Regarding the nuclear issue on the Korean Peninsula, Wang said China will continue to strictly implement relevant UN Security Council resolutions concerning the DPRK.

source: AFP