North Korea suspends cooperation deals with South Korea

North Korea has announced in a statement that it would “liquidate” South Korean assets left behind in its territory.

“We will liquidate all the properties of business groups in the South and relevant organs in the North side as the South Korean puppet group unilaterally and totally stopped the tour of Mount Kumgang and the operation of the Kaesong Industrial Zone,” a North Korean news reader said on National TV, KRT. The move is in response to the suspension of operations in the jointly run zone last month following the rocket launch and nuclear test by Pyongyang.

“Planned special measures will continue to be implemented to move up a devastating end to Park Geun-hye and her party by our political, military and economic blows,” KRT news reader added.

Mount Kumgang was the first major inter-Korean cooperation project. Thousands of South Koreans visited the resort between 1998 and 2008. Tours were ended when a North Korean soldier shot dead a South Korean tourist who wandered into a restricted zone.

North Korea has been on the offensive since the United Nations stepped up sanctions followed by massive war games by South Korea and the U.S.

Pyongyang has warned it will carry out “pre-emptive and offensive nuclear strike” as a response.