He says: "If we have to take it, we will".
Park said President Moon told the meeting that Washington and Seoul agreed that pressure needed to be applied to North Korea, with the door to talks still open.
China has always been North Korea's primary beneficiary for decades, helping the rogue regime skirt sanctions by exploiting the "livelihood clause" in past resolutions, but since President Donald Trump took office, the US has put increased pressure on China to rein in its nuclear neighbor.
The North Korean redeployment follows tense exchanges between the USA and North Korean delegations from the U.N. General Assembly floor this month, during which President Donald Trump called North Korea's leader "rocket man" and warned him he is "on a suicide mission". He declared: "I will fix this mess".
He says all nations must act now for the denuclearization of North Korea. China has also reportedly instructed its financial institutions to stop doing business with North Korea, closed border crossings, set restrictions on North Korean labor imports, and reduced fuel exports to the rogue regime.
Earlier this month, China ordered its financial institutions to take a number of steps to comply with United Nations resolutions, including halting business with sanctioned individuals and companies.
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In Moscow, Russia's Foreign Ministry said it was working behind the scenes to find a political solution and that using sanctions against North Korea was nearly exhausted.
Trump was speaking at a press conference Tuesday after meeting the leader of Spain.
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Commenting on the recent escalation of war of words between United States and North Korea, Beijing warned against any potential military conflict on the Korean Peninsula and urged the two countries to realize that military means are never a viable way out.
The eight banks are all in North Korea. The Treasury Department said they are North Koreans acting as representatives of North Korean banks in China, Russia, Libya and the United Arab Emirates.
South Korea expects North Korea to engage in more provocative action next month to coincide with the anniversary of the founding of its communist party and China's all-important Communist Party Congress. He says it's part of the effort to isolate North Korea over its nuclear weapons program.