No Chinese firms were found to have purchased South Korean properties at North Korea’s Mount Geumgang that were recently seized or frozen by Pyongyang.

According to a diplomatic source in Beijing Tuesday, the South Korean government made inquiries to the Chinese Foreign Ministry and confirmed that no Chinese companies have acquired frozen assets in the mountain resort. The source also said that no Chinese firms have clinched business deals with the North regarding tours to Mount Geumgang.

Pyongyang recently unveiled plans to rent out or sell the frozen assets to Chinese firms in a bid to resume tours to Mount Geumgang that have been suspended amid strained inter-Korean ties.

However, Chinese firms reportedly are reluctant to buy real estate in the mountain resort due to complications related to property rights.

Earlier on March 23rd, the North’s Guidance Bureau for Comprehensive Development of Scenic Spots declared unilateral measures to freeze five properties within the mountain resort owned by the South's government and Korea Tourism Organization. The agency also announced it would freeze the properties held by private organizations, including Hyundai Asan.