S.Korea, DPRK Agree on Provision of Railway Materials

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Last updated at: (Beijing Time) Monday, October 14, 2002

S.Korea, DPRK Agree on Provision of Railway Materials

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South Korea and the Democratic People's Republic of Korea (DPRK) Sunday agreed on the former's initial provision of materials and equipment for DPRK's construction work of the inter-Korean railways and roads.

According to South Korean national news agency Yonhap News, the agreement was clinched by the two sides in a plenary session of working-level talks held at the DPRK's resort Mount Geumgang.

South Korea will initially supply 33 items of materials and 45 pieces of equipment needed to link the cross-border railways and roads, all on credit, said the agreement.

The 20-year credit facility, which has a grace period of 10 years, will carry an interest rate of 1 percent, said the agreement.

South Korea plans to send the initial materials and equipment from Incheon and Sokcho before next Friday, reported Yonhap.

Besides, the DPRK also agreed to let South Korean experts visitthe sites of the rail and road links.

The South Korean delegation arrived Mount Geumgang on Saturday,and has held three sessions of negotiations with its DPRK's counterpart. The South Korean representatives will leave Mount Geumgang on Monday afternoon, said Yonhap.

The two sides plan to hold further meetings down the road on the provision of additional materials and equipment for the links.

South Korea earlier agreed to provide materials and equipment to the DPRK in the second inter-Korean economic cooperation talks on Aug. 27-30, in which the two sides promised to complete the reconnection of the Gyeongui Rail Line and Road as well as DonghaeRailway and Road as soon as possible.

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