South Korea cuts off trade with North

South Korea hit back over its torpedoed warship today by suspending trade with North Korea in a move aimed at crippling the regime financially.

President Lee Myung-bak also pledged to drag Pyongyang back to the UN Security Council for possible new international sanctions and banned the north’s cargo ships from passing through South Korean waters – in retaliation for the sinking in March which killed 46 sailors.