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Macau: North Korea Funds Transferred

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공표년도

창작년도

2007-06-14

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The transfer of North Korea's funds that have been stuck in a Macau bank for close to two years has begun.
This has raised hope of a major breakthrough in North Korea's nuclear stalemate.
Macau's financial authorities have reportedly confirmed that the bulk of the funds have been withdrawn.
For more on this‚ I'm joined by Kim Hyungeun standing by at the Arirang News Center.
Fill us in‚ Hyungeun.
Sure.
Media reports say Macau's Economy and Finance Secretary Francis Tam Pak Yuen has confirmed that more than 20 million of the 25 million US dollars in North Korean funds have been transferred from Banco Delta Asia.
He didn't tell reporters where the money went‚ but the funds are believed to have gone first through the US Federal Reserve Bank in New York before going to the Central Bank of Russia.
From there‚ the money will go to North Korea's account with a private Russian bank.
Russia had allowed one of its banks to accept the transfer under condition of US guarantees that the bank would not suffer from US sanctions against North Korea.
Seoul is expected to release a statement on the transfer when its top nuclear envoy Chun Yungwoo returns from Washington early Friday morning.
I see.
Hyungeun‚ now that the long-awaited transfer has begun‚ will North Korea's nuclear dismantlement start up again?
Yes.
The release of the funds is expected to bring a breakthrough to a three-month stalemate in North Korea's nuclear dismantlement.
Pyeongyang has refused to honor a February agreement to start the process UNTIL its funds from Banco Delta Asia are released.
The funds were frozen in September 2005 after the US imposed sanctions on the Macau bank over suspected links to Pyeongyang's illegal activities.
Washington later agreed to release the cash as part of efforts to persuade the communist country to keep its commitment to remove its nuclear program.
Chakhee.
Alright.
Thank you for that update‚ Hyungeun. Reporter :

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