North Korea seizes South’s Mount Kumgang resort assets

North Korea says it is seizing assets at a tourist site jointly operated with South Korea, the BBC informs. It has given South Koreans 72 hours to leave the resort at Mount Kumgang, which lies just inside North Korea. The resort used to be a symbol of co-operation between the two Koreas and a key source of hard currency for Pyongyang. But joint operations were suspended in 2008 after a South Korean tourist was shot dead by a North Korean soldier. Since then, ties between the two Koreas have deteriorated. Tensions remain high over the sinking of a South Korean warship in March 2010 and the shelling by North Korea of a South Korean border island in November.

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