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NK to Finish Freezing S.Korean Assets at Geumgang

Written: 2010-04-30 07:30:50Updated: 2010-04-30 10:10:18

NK to Finish Freezing S.Korean Assets at Geumgang

North Korea is set to wrap up efforts to seize and freeze privately owned South Korean properties at Mount Geumgang on Friday after launching such efforts on Tuesday.

Earlier on Thursday, the North froze most of the tourist facilities and accommodations owned by Hyundai Asan, which is the main operator of tour programs to the mountain resort. The North, however, did not implement measures to freeze the assets of four other properties belonging to Hyundai Asan in Mount Geumgang, including an electric power facility and offices.

Officials at Hyundai Asan and the Unification Ministry in Seoul said Pyongyang has not mentioned whether it plans to exclude the four properties from its plan to seize South Korean assets.

The North has also yet to notify the South on whether it will further expel management personnel from the mountain resort.

Currently, there are 86 South Koreans residing in the resort to oversee management operations, including 79 Hyundai Asan employees.

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