N.Korea says co-operation deals with S.Korea void, Kaesong assets to be liquidated

SEOUL – North Korea said on Thursday it has scrapped all agreements with the South on exchanges and economic co-operation projects and that it would “liquidate” the assets of South Korean firms and government agencies left in its territory.

The assets are primarily in the Kaesong industrial zone, where operation was suspended by the South last month as punishment for the North’s recent rocket launch and a nuclear test, as well as in the Mount Kumgang tourist zone.

The North’s Committee for the Peaceful Reunification of Korea, which handles inter-Korea affairs, also threatened unspecified actions that it said would deal “a devastating end to Park Geun-hye and her party,” referring to the South’s leader.