North’s Frozen-Fund Transfer to Begin

North Korea’s $25 million in frozen funds at Macau`s Banco Delta Asia (BDA) will soon be delivered to the communist regime after being transferred to Macau`s financial authorities and an American bank.

“After completing the preparation of the transfer, the transfer procedure will commence within a day or two,” a senior official of the BDA said on Thursday. The money will then be wired to an American bank through Atlantic Telegraphic Transfer in Macao.

A great deal of attention has been paid to whether the deadlock over the closure of the North’s nuclear facilities as stated in the February 13 agreement of the six-party talks will be resolved once the transfer procedure of the unfrozen funds wraps up.

With regard to the remaining $10 million, it has been reportedly agreed with the North that it will be personally withdrawn by a Macau businessman who holds the account and sent to Pyongyang.

Prior to this, Assistant Secretary of State Christopher Hill, who is also the U.S. delegation chief of the six-party talks, said on Wednesday, “We will have some news for you very soon on this."

iam@donga.com