North Korea has adopted a regulation which stipulates that South Korean firms operating in Mount Geumgang must provide at least 50 dollars in monthly wages for North Korean workers.

North Korea's state-run Korean Central News Agency said Saturday that the regulations, which control labor, foreign currency and advertising at Mount Geumgang, also allow investors to establish banks and offer commercial advertisements in the area.

The move, adopted by the North's Supreme People's Assembly earlier this month, is expected to boost cross-border sightseeing tours to Mount Geumgang, a scenic resort on North Korea's east coast.

The tour, launched in 1998 by South Korea's Hyundai Group, has seen sluggish operation since the onset of the latest dispute over North Korea's nuclear weapons program.

Under the new regulations, South Korean businesses operating in the tourist zone can hire South and North Koreans, Korean residents from abroad, as well as foreigners whose weekly working hours would be set at 48.

South Korean firms at Mount Geumgang are also obliged to provide 15 percent of total wages for every North Korean worker as social insurance payments.

Hyundai Asan, which runs cross-border tours, says there are currently 17 South Korean companies operating at Geumgang.