The Democratic People's Republic of Korea (DPRK) has announced measures to dispose properties of the south side in the Mt. Kumgang resort in a statement issued on Monday.

Mt. Kumgang resort

The official news agency KCNA reported that the DPRK considers that the South Korean authorities totally abandoned the protection of properties and interests of enterprises of the south side and from now on makes a real legal disposal of all the properties including real estates, equipment and vehicles of the south side in the Special Zone for International Tour of Mt. Kumgang.

It said the DPRK banned taking materials and properties of enterprises of the south side out of Mt. Kumgang resort from 00:00 on Aug. 21.

The personnel from the south side in the Special Zone should leave within 72 hours, said the statement.

It also said that the DPRK has provided several opportunities for negotiations and made every sincere effort to ensure the properties may be dealt with according to the will of enterprises of the south side. However, the South Korean authorities persistently disturbed the adjustment of properties.

The statement said that the South Korean authorities are entirely to blame for the situation today. "Its crimes will be denounced and cursed by them for all ages," said the statement.

Xinhua reported that Mt. Kumgang tourism projects were operated jointly by the DPRK and Hyundai Group of South Korea. A female tourist of South Korean was shot dead by the guards of the DPRK at the military forbidden zone near the tourism area. The project was halted for the demand of South Korea to investigate jointly was not satisfied.

The DPRK Guidance Bureau of Special Zone for International Tour of Mt. Kumgang notified the south side's on June 17 that all assets including real estates in the zone are to be disposed of under the Law on Special Zone for International Tour of Mt. Kumgang.

It asked all parties concerned of the south side which have real estates in the zone to come to Mt. Kumgang in order to discuss the matter of disposing of the frozen and seized properties.

Both the negotiations held on June 30 and July 14 failed due to the obstructive moves of the South Korean authorities, according to the report on KCNA.