The nation’s top negotiator to the six-way nuclear talks says the transfer of North Korea's funds at a Macao bank is currently in progress.

Chun Yung-woo told reporters Friday upon arriving at Incheon International Airport from a visit to the United States that the North is waiting to confirm the money transfer.

Chun said it is uncertain how long it will take to conclude the transfer or for Pyongyang to confirm the transaction.

The money is being transferred to a North Korean account at a private Russian bank after being transferred to Russia’s central bank via the U.S. Federal Reserve Bank of New York.

Chun stressed that it is now time for Pyongyang to focus on implementing the February 13th nuclear agreement since the banking dispute has been resolved.

Meanwhile, a government official in Seoul said North Korea is expected to respond to the cash transfer once the transaction is fully complete.