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2nd LD Writethru: DPRK nullifies inter-Korean agreements on economic cooperation

Xinhua, March 10, 2016 Adjust font size:

The Democratic People's Republic of Korea (DPRK) on Thursday nullified all agreements on economic cooperation and exchanges with South Korea, the official KCNA news agency reported.

All assets belonging to South Korean enterprises in the DPRK will be liquidated, the news agency said, citing a statement by a spokesman for the Committee for Peaceful Reunification of Korea.

The statement said the plan was made in response to a series of unilateral sanctions unveiled Tuesday by Seoul on the DPRK after the UN Security Council voted to adopt a tough resolution against Pyongyang earlier this month.

According to the statement, the DPRK vows to take steps to "launch lethal political, military and economic strikes on the Park Geun-hye administration" of South Korea.

The DPRK will immediately launch attacks "in preemptive manners" once the enemies take action and now the military is only waiting for one order, the statement stressed.

The Park administration, which merely echoes the stance of the United States, should be held accountable for driving north-south relations to a new low, it added.

South Korea on Tuesday unveiled a package of new unilateral sanctions on the DPRK over its latest nuclear test and rocket launch.

The standalone sanctions include a ban on third-country ships that had stopped in the DPRK within the past 180 days from entering South Korean ports. Seoul added 30 entities and 40 individuals of the DPRK to the blacklist of those suspected of involvement in Pyongyang's development of weapons of mass destruction.

Seoul also decided to shut down the Mt. Kumgang tourist zone and Kaesong Industrial Complex.

Furthermore, restrictions will be tightened on the indirect export and import of DPRK products into South Korea, and South Koreans will be advised to refrain from visiting DPRK-run restaurants. Endi