North Korean funds released
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Friday, June 15, 2007
The Democratic People's Republic of Korea (DPRK) has received US$25,000,000 frozen in 2005 as part of the general crackdown on the communist state.
The funds had been frozen in a Macau bank after the United States earlier alleged that the money was gained from activities including money laundering and counterfeiting.
The DPRK had demanded return of the money as a precondition to engaging in the six-party talks. In February, the U.S. agreed to allow North Korea to retrieve their funds.
Sources
- Tom Mitchell and Neil Buckley "Freeze ends on North Korean depositors' cash". Financial Times, June 15 2007
- Agencies "Eyes on N Korea after cash transfer". Al Jazeera, June 15, 2007
- Staff "Japan calls on N Korea to shut reactor". Keralanext.com, June 15, 2007
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