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S.Korea: Banking Dispute Progressing

Wednesday, May 23, 2007 3:28:35 AM
By BO-MI LIM

South Korean Foreign Minister Song Min-soon talks to the media during a regular press briefing at the Ministry of Foreign Affairs and Trade in Seoul, Wednesday, May 23, 2007. Song said Wednesday a banking dispute that has long blocked international efforts to halt North Korea's production of nuclear weapons will be resolved smoothly, although at a slow pace. The letters in the background read "Ministry of Foreign Affairs and Trade." (AP Photo/Ahn Young-joon)SEOUL, South Korea (AP) - A banking dispute that has long blocked international efforts to halt North Korea's production of nuclear weapons will be resolved satisfactorily, but not quickly, South Korea said Wednesday.

North Korea has refused to shut down its main nuclear reactor — as agreed with the United States and four other regional powers — until it receives funds from an account at a bank in the Chinese territory of Macau that was frozen when the U.S. blacklisted the bank in 2005.

South Korean Foreign Minister Song Min-soon said the financial dispute "will be resolved in a way that we desire."


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