; or (ii) is committed to, and is taking effective steps to achieving, the goal of permanently and verifiably limiting North Korea’s WMD and ballistic missile programs; or (B) such termination is vital to the national security interests of the United States, with an explanation of the reasons therefor. 7. Definitions For purposes of this Act: (1) Terms related to North Korea The terms applicable Executive order , Government of North Korea , North Korea , North Korean person , and significant activities undermining cybersecurity have the meanings given those terms, respectively, in section 3 of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9202 ). (2) Covered person The term covered person means the following: (A) Any designated person under an applicable Executive order. (B) Any North Korean person that facilitates the transfer of bulk cash or covered goods (as defined under section 1027.100 of title 31, Code of Federal Regulations). (C) Any North Korean financial institution. (D) Any North Korean person employed outside of North Korea, except that the Secretary of the Treasury may waive the application of this subparagraph for a North Korean person that is not otherwise a covered person and— (i) has been granted asylum or refugee status by the country of employment