Unification Minister Yu Woo-ik says the government plans to devise as early as this year ways to begin raising 55 trillion won in unification funds.

In an interview with Bloomberg news agency on Monday Yu said that the government is close to reaching an agreement on ways to raise the funds. He added that he hopes a related law will be approved at the National Assembly within the year.

The unification minister said the funds could be raised through donations from South Koreans and the inter-Korean economic cooperation fund.

Yu also said that foreigners could also make donations but added that Seoul has no plans to request foreign governments to make donations.

On the possibility of the two Koreas holding summit talks, Yu said Seoul currently has no plans for such a meeting.