In a joint news conference with South Korea’s leader, U.S. President Barack Obama said that North Korea’s days of receiving concessions from the world by making threats is over.

“The days when North Korea could create a crisis and elicit concessions, those days are over,” President Obama said.  “President Park and myself very much share the view that we are going to maintain a strong deterrent, we’re not going to reward provocative behavior  but we remain open to the prospect of North Korea taking a peaceful path.”

North Korea, after months of blustering and hostility, removed a pair of medium range missiles from their coastal launch positions.

South Korea’s first female president, Park Guen-hye, echoed President Obama’s position.

“Instead of just hoping to see North Korea change, the international community must consistently send the message with one voice, to tell them and communicate to them that they have no choice but to change,” she said.

As the press conference took place in Washington, China’s state-owned Bank of China announced they were suspending business with North Korea’s Foreign Trade Bank.  It is the first time a Chinese entity has made a move against North Korea during the recent tensions.