Unification Minister Lee Jae-joung has dismissed the possibility of South Korean banks playing a role in the transfer of North Korean funds at a Macao bank.

Lee told reporters Friday that the transfer issue should be resolved within the international financial system, not between the two Koreas.

A Unification Ministry official explained that Lee meant that it is premature to discuss the involvement of South Korean banks at this point, as the U.S. is still trying to find a solution.

The unification minister also said that a summit between South and North Korea is much needed to improve inter-Korean relations. He added, however, that a summit must come after Pyongyang implements initial nuclear disarmament steps in line with the February 13th six-party agreement.