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NK to Freeze S.Korean Civilian Assets at Geumgang

Written: 2010-04-26 12:33:29Updated: 2010-04-26 14:28:48

NK to Freeze S.Korean Civilian Assets at Geumgang

Officials of 30 South Korean companies that own properties at North Korea’s Mount Geumgang will visit the North to witness the communist country implement procedures to freeze their assets.

An official of Hyundai Asan, the South Korean operator of tours to Mount Geumgang, said that officials of the South Korean companies will visit the North Korean resort on Tuesday morning.

The Unification Ministry in Seoul has approved their visit.

North Korea said last Friday that it would freeze properties held by South Korean companies at Mount Geumgang from this Tuesday until the end of the month.

It demanded that the South Koreans concerned be on site to witness the implementation of procedures to freeze the assets.

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