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S.Korean Biz Officials Visit NK to Witness Asset Freeze

Written: 2010-04-27 13:26:07Updated: 2010-04-27 15:02:06

S.Korean Biz Officials Visit NK to Witness Asset Freeze

Officials from 28 South Korean companies that own property at North Korea’s Mount Geumgang resort arrived in the North on Tuesday to witness the communist country implement procedures to freeze their Geumgang assets.

The Unification Ministry in Seoul said that 40 officials from the 28 companies traveled to North Korea via an overland route at 9:40 a.m.

Prior to their departure for the North, the officials told reporters that they hope the two Koreas will restart talks on the resumption of South Korean tours to North Korean tourist attractions.

North Korea said last Friday that it would freeze properties held by South Korean companies at Mount Geumgang starting Tuesday.

The North demanded that the South Koreans concerned arrive at a hotel in Mount Geumgang before 11 a.m. Tuesday to witness the implementation of procedures to freeze the assets.

The move is considered to be Pyongyang’s response to South Korea’s ban on tourism to the resort following the death of a South Korean tourist who was shot and killed by a North Korean soldier at Geumgang in July of 2008.

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