Asia-Pacific
DPRK to freeze S.Korea's assets in Mt. Kumgang
(Xinhua)
Updated: 2010-04-11 14:15
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SEOUL -- The Democratic People's Republic of Korea (DPRK) declared to freeze some of South Korea's assets in Mt. Kumgang from Tuesday, Seoul's Unification Ministry said on Sunday in a press release.
The DPRK side on Friday informed South Korea's Hyundai Group that it will freeze the facilities for the reunions of separate families, the fire department, and some facilities owned by the South Korean Tourism Organization such as the duty-free shop and cultural center, from April 13, and summoned Seoul's officials to appear at the resort as it will carry out the measure on Tuesday, the ministry said.
The government believed that the assets to be frozen are not tourism facilities, so it has no plan to comply with the DPRK's demand, Lee said.
The DPRK on last Thursday announced plans to freeze some of South Korea's assets in Mount Kumgang, expel South Korean personnel there, nullify a tourism deal with South Korean company Hyundai Asan, and start a new "business enterprise" with a new partner to explore tourism in Mount Kumgang.
In response, South Korea voiced "deep regret" over the DPRK's decision, and required Pyongyang to withdraw these measures.
The ministry reiterated that the DPRK's unilateral move violated agreements set between the operators and governments of both sides, and also infringed international practices.
Tours to Mount Kumgang, launched in 1998 and run by South Korea 's Hyundai Asan Corp., were halted in 2008 soon after a South Korean female tourist was shot dead by a DPRK soldier.
Tours to the border town of Kaesong also were suspended the same year, rapidly souring inter-Korean ties.
The DPRK recently expressed willingness to restart the tourism, but was rejected by South Korea, which insisted on an investigation into the tourist's death and the establishment of a mechanism to prevent similar incidents.
The DPRK then launched a survey of South Korean tour operators at the mountain resort, and announced late Thursday that it will scrap the tourism deal with the South and form an enterprise with a new partner.
