"Regret Over Illegal Infringement of Property Rights... Entirely North Korea's Responsibility"
Violation of Investment Protection Agreement Signed After June 15 Joint Declaration
[Asia Economy Reporter Jang Hee-jun] The Ministry of Unification stated that North Korea's dismantling of South Korean assets within the Geumgangsan tourist zone is "an illegal infringement on our property rights and a clear violation of inter-Korean agreements."
A Ministry of Unification official told reporters on the 18th, "The government has been closely monitoring North Korea's unauthorized dismantling of our facilities in the Geumgangsan tourist zone," emphasizing this position.
The official also expressed deep regret over the continued illegal infringement on our property rights, stating, "They must immediately cease unilateral actions even now, and we reiterate that all responsibility related to this lies entirely with North Korea."
The Ministry of Unification bases its classification of North Korea's dismantling actions as a "violation of inter-Korean agreements" on the Inter-Korean Investment Guarantee Agreement signed on December 16, 2000. At that time, the two Koreas signed this agreement in accordance with the June 15th North-South Joint Declaration, aiming to protect investment assets and establish dispute resolution mechanisms as exchanges and cooperation between the two Koreas intensified.
The government has identified that dismantling continues at the Haegumgang Hotel, Geumgangsan Golf Course, Onjeonggak, Geumgangsan Cultural Center, Guryong Village, and Goseonghang Seafood Restaurant, and reports that some facilities such as Geumgang Pension Town have already been completely dismantled.
Earlier that morning, Voice of America (VOA) reported, based on analysis of satellite images from Planet Labs, that North Korea had dismantled the Goseonghang Seafood Restaurant building within the Geumgangsan tourist zone. The Goseonghang Seafood Restaurant, opened in December 2003 near the northern port of the tourist zone, is a 236-seat restaurant. It was owned by Hyundai Asan and operated by Ilyeon Investment.
The dismantling of the building is estimated to have been completed in mid-last month. North Korea began dismantling the Haegumgang Hotel owned by Hyundai Asan in March of this year, and in April dismantled eight lodging buildings at the Geumgangsan Golf Course operated by the South Korean resort company Ananti.
Additionally, the North Korea-focused media outlet NK News reported that since August, there have been movements presumed to be dismantling at South Korean government-owned sites such as the separated families reunion center, Onjeonggak, Guryong Village, and Geumgang Pension Town. In fact, last month, it was confirmed that the roof of the Cultural Center building, in which the Korea Tourism Organization had invested a large sum, was torn off.
Since Kim Jong-un, General Secretary of the Workers' Party of Korea, ordered the dismantling of South Korean facilities in this area, the remaining buildings are also expected to be dismantled soon. Previously, after inspecting Geumgangsan in October 2019, Kim had instructed, "Remove all the shabby South Korean facilities that make one feel unpleasant just by looking at them."
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