North Korea Rejects Seoul's Offer of Economic Aid in Exchange for Denuclearization

Earlier, South Korean President Yoon Suk-yeol said that South Korea was ready to facilitate the development of the North's economy, energy, trade and agriculture sectors and employ international investment initiatives if Pyongyang starts a denuclearization process.

On Friday, North Korean leader Kim Jong-un's sister Kim Yo Jong said that Pyongyang refuses to accept the offer of the Republic of Korea on denuclearization in exchange for economic assistance.

"I don't know what brash ideas they will come knocking on the door with in the future, but I make it clear that we will never deal with it," she said as cited by the Rodong Sinmun newspaper.

In turn, South Korea expressed extreme regret over the "rude" and "tactless" statements of the North Korean leader Kim Jong-un's sister about the South Korean president and his plan to economically help North Korea, the South Korean Ministry of Unification said. The DPRK will only face great economic difficulties and international isolation if it continues such behavior that threatens peace on the Korean peninsula, the ministry added.

On August 15, on the occasion of the anniversary of the liberation of the Korean peninsula from Japanese rule, South Korean President Yoon Suk-yeol offered to provide economic assistance to Pyongyang if it starts a real denuclearization process.

The plan presupposes a large-scale food program, assistance in establishing industrial infrastructure, electric supply transmission and distribution, as well as the modernization of ports and airports to set up international trade, the president said.

Seoul was ready to assist Pyongyang in increasing the North's agricultural productivity, leveling up the country's medical infrastructure and employing international investment financial support initiatives, he added.