South Korea Freezes Funding to North Following Warship Explosion
South Korea said Monday it had suspended funding for government-level exchanges with communist North Korea amid rising tensions over the sinking of a Seoul warship and other issues.
The unification ministry, which is in charge of cross-border relations, said it has asked 10 ministries or other organisations to suspend the spending.
South Korea’s Unification Ministry announced yesterday that it asked government agencies last week to suspend budgets related to inter-Korean exchanges, another move designed to stanch cash flowing north of the border amid heightened tensions on the peninsula.
In a press briefing yesterday, spokesman Chun Hae-sung said the ministry last Friday sent formal documents to about a dozen cabinet ministries and government agencies.