Unification Minister Lee Jae-joung says Seoul will be able to finance recently agreed economic cooperation projects with North Korea using the Inter-Korean Economic Cooperation Fund.

He made the remark at a luncheon with editors of domestic news organizations, adding it will be up to the next administration to carry out the projects.

The minister said the proposed industrial complex in Haeju on North Korea's west coast will require at least one year for on-site research and land surveys.

He explained the one-point-three trillion-won Inter-Korean Economic Cooperation Fund will be enough to fund next year's work.

Lee added that an action plan for the summit accords will be not drawn up until high-level inter-Korean talks next month.

An outline of the plan will become available near the end of the year.