hankyoreh

The matter of the Mt. Kumgang tourism project is gradually moving to ruin with North Korea’s notification of Seoul on Saturday that it would unilaterally dispose of South Korean property in the mountain resort area.
On Saturday morning, the day North Korea selected as the deadline to deal with the property issue, North Korea sent a notice to the South Korean Unification Ministry, saying that with the South Korean authorities refusing even to hold working-level inter-governmental talks together with South Korean private companies, Pyongyang unavoidably needed to make a final decision, and that from Saturday, North Korea would begin practical measures to dispose of South Korean real estate in the Kumgangsan Mountains area in accordance with the Mt. Kumgang International Tourism Special District Law.
North Korea also sent separate notifications to South Korean companies with assets in Kumgangsan, demanding they attend separate meeting at Mt. Kumgang within the legal three-week deadline, and that companies that fail to show with abandon their property rights and their assets will be dealt with in accordance with the Mt. Kumgang International Tourism Special District Law.

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