Date: Friday, May 24, 2013
Time: 10:30-10:45 P.M.
1.Due date of North Korea’s food loan repayment
On May 23, Korea Export and Import Bank sent a notice to the ‘Foreign Trade Bank of DPRK’ requesting the overdue repayment of the food loan. The notice also includes the due date for the repayment of the principal and interest.
The amount of the principle and loan, which North Korea is due to pay back stands at USD 5.78 million and the payment is due on June 7th.
The notice urges North Korea to pay back the food loan as soon as possible and requests 2% of compensation for the delay damages.
North Korea has not responded to our requests on the repayment of the food loans, which were previously requested four times last year (June 8th, July 16th, September 27th, December 7th).
The R.O.K. government believes that the food loan must be paid back as it was agreed upon by South and North Korea and we urge North Korea to faithfully fulfill the agreement.
