North Korea Announces Plan to Dismantle Nuclear Site

North Korea Announces Plan to Dismantle Nuclear Site

North Korean leader Kim Jong Un has taken a series of steps this year to ease tensions with the U.S. and he is set to meet U.S. President Donald Trump for historic talks next month in Singapore.

However, Trump also withdrew the United States from a nuclear pact with Iran, raising questions over whether Pyongyang would trust Washington's promises.

Yesterday's announcement is the latest move in a rapid sequence of events on the Korean peninsula triggered by the Winter Olympics in the South.

U.S. President Donald Trump has welcomed North Korea's announcement of details of its plan to dismantle its nuclear test site as "a very smart and gracious gesture".

President Trump thanked the Koreans for their "kind and gracious gesture".

South Korea's presidential office echoed the sentiment on Sunday, saying it shows Pyongyang's willingness to denuclearise through actions beyond words.

North Korea will begin dismantling its nuclear test site in less than two weeks in a ceremony attended by foreign journalists.

Stock Survey of: Twenty-First Century Fox, Inc. (NASDAQ:FOXA)
Relative volume is the comparison of current volume to average volume for the same time of day, and it's displayed as a ratio. The VC1 is calculated using the price to book value, price to sales, EBITDA to EV, price to cash flow, and price to earnings.

"In due consideration of small space of the test ground, journalists from other countries will be confined to those from China, Russia, the United States, the United Kingdom and South Korea", said the statement. Date will depend on weather conditions.

The Workers' Party of Korea said in a resolution adopted last month that North Korea will dismantle the nuclear test site.

The Foreign Ministry told state media that all of the tunnels at the north eastern testing ground will be destroyed in an explosion.

The test ground will be completely closed after the process, KCNA said. South Korea had no immediate response to the statement.

It will involve the removal of all research buildings, observation facilities and security posts.

For now, however, Kim appears to be on a diplomatic offensive, offering concessions many thought he would try to use as bargaining chips at the meeting with Trump, including the prisoner release and decommissioning the test site.

Kim is expected to demand that the USA pledge to accept the continuation of North Korea's hereditary regime in return for vowing to achieve denuclearization on the divided peninsula in a "phased" and "synchronized" manner.

Related Articles