S.Korea, DPRK Reach Agreement on Inter-Korean Railways, Roads

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Last updated at: (Beijing Time) Tuesday, September 17, 2002

S.Korea, DPRK Reach Agreement on Inter-Korean Railways, Roads

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Cars can run through the Demilitarized Zone (DMZ) between South Korea and the Democratic People' s Republic of Korea (DPRK) from December along an east coast cross-border road, according to an agreement reached Tuesday in Mount Geumgang in the DPRK.

Inter-Korean talks on reconnection of railways and roads have finally hammered out an agreement containing seven main points after four-day tough negotiations, said South Korean national news agency Yonhap News.

The two delegations from South Korea and the DPRK also agreed that the former will provide 50 billion won (38.9 million US dollars) worth of construction materials and heavy equipment necessary for the reconnection of cross-border railways and roads on a credit basis, with the first installment to be extended within the month, said Yonhap.

These were the main contents of the hard-won agreement, which came two days later than the original schedule.

According to the agreement, the 50 billion won construction materials and heavy equipment provided by South Korea will be transported to the DPRK ports of Wonsan and Haeju on a credit basis with a 30-year repayment period and a 10-year grace period, plus an interest rate of 1 percent.

The other points of the agreement included the time of the reconnection of the inter-Korean railways and roads, and how many lanes the roads will have.

The two sides also agreed to allow journalists from both sides to attend the ground-breaking ceremonies of the railway and roads on Sept. 18, which were respectively to be held in its own part, in order to make the events known at home and abroad.

The South Korean delegation left the DPRK resort on Tuesday morning to return home after the agreement was clinched.

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