North Korea says it will operate a light water reactor on its own nuclear fuel sometime within the next ten years.

The North's official Korean Central News Agency said Monday the reactor will be the North's response to what it says is a “black propaganda” campaign South Korea and the U.S. has launched against the North to discourage foreign investment.

It claimed the North conducted two nuclear tests and successfully launched its Gwangmyeongseong II satellite in response to Washington's policies on the North.

Pyongyang's move is believed to be a way of pressing for talks, highlighting that time is not on the side of the U.S. or South Korea in terms of the nuclear negotiations.

The news agency also said rumors about the receding health of leader Kim Jong-il, a failed currency reform and a food shortage are all malicious propaganda.