ID :
195722
Tue, 07/19/2011 - 07:37
Auther :
Shortlink :
https://oananews.org//node/195722
The shortlink copeid
Gov't, investors to meet over N.K. threat to dispose of resort assets
SEOUL, July 19 (Yonhap) -- South Korea's government and investors in a North Korean mountain resort will meet Tuesday to discuss their next response to the communist state's ongoing threat to dispose of the South's assets in Mount Kumgang, industry sources said.
Some 30 representatives from the South Korean firms will meet with officials from the Unification Ministry for the first time since the two sides traveled to the North last Wednesday for talks with their North Korean counterparts. It was the second meeting after the North threatened last month to dispose of South Korean assets at the scenic mountain resort, apparently in anger over the South's termination of joint tour programs there, which served as a cash cow for the impoverished nation. Both meetings, however, produced little result.
"We plan to explain to the investors the details of our talks with North Korean officials and gather their opinions," said an official at the ministry, which handles inter-Korean affairs. The official spoke on the customary condition of anonymity.
"The government is determined to protect the property rights of our firms," the official added.
South Korea has invested tens of millions of dollars in building hotels, restaurants and a golf course at the resort since 1998 when the North opened it for South Korean tourists. Seoul halted the tour programs in 2008 following the shooting death of a South Korean female tourist at the resort.
North Korea has since unilaterally terminated exclusive tourism rights for Hyundai Asan, a South Korean tour operator, and seized or frozen several South Korean assets at the resort. It has also announced a law designed to develop the resort as a special zone for international tours instead.
North Korea has demanded the South come up with a solution by July 29 or face disposal of the assets.
The recent series of developments come amid lingering tensions over the North's two deadly attacks on the South last year, which killed a total of 50 South Koreans.
Some 30 representatives from the South Korean firms will meet with officials from the Unification Ministry for the first time since the two sides traveled to the North last Wednesday for talks with their North Korean counterparts. It was the second meeting after the North threatened last month to dispose of South Korean assets at the scenic mountain resort, apparently in anger over the South's termination of joint tour programs there, which served as a cash cow for the impoverished nation. Both meetings, however, produced little result.
"We plan to explain to the investors the details of our talks with North Korean officials and gather their opinions," said an official at the ministry, which handles inter-Korean affairs. The official spoke on the customary condition of anonymity.
"The government is determined to protect the property rights of our firms," the official added.
South Korea has invested tens of millions of dollars in building hotels, restaurants and a golf course at the resort since 1998 when the North opened it for South Korean tourists. Seoul halted the tour programs in 2008 following the shooting death of a South Korean female tourist at the resort.
North Korea has since unilaterally terminated exclusive tourism rights for Hyundai Asan, a South Korean tour operator, and seized or frozen several South Korean assets at the resort. It has also announced a law designed to develop the resort as a special zone for international tours instead.
North Korea has demanded the South come up with a solution by July 29 or face disposal of the assets.
The recent series of developments come amid lingering tensions over the North's two deadly attacks on the South last year, which killed a total of 50 South Koreans.
