NK to Speed up Denuclearization Process: Newspaper

North Korea is willing to speed up the denuclearization program it agreed to in February if

confidence-building measures are taken between Pyongyang and Washington, a pro-Pyongyang newspaper said Thursday.

"Should confidence be continuously built up between (North) Korea and the U.S., they are expected to make up for the lost time by speeding up the implementation of the initial steps of the Feb. 13 agreement," reported the Chosun Shinbo, a newspaper run by pro-Pyongyang residents in Japan.

Under the six-nation agreement, Pyongyang was originally scheduled to shut down and seal its key nuclear facilities at Yeongbyeon by April 14. The agreement was made between the two Koreas, the U.S., Japan, China and Russia.

However, North Korea missed the deadline, insisting on the release of its funds previously frozen at a Macau bank.

The Banco Delta Asia (BDA) had frozen some $25 million in North Korean funds after the U.S. Treasury accused it of laundering money for the Pyongyang regime.

The Macau bank last week wired at least $20 million in North Korean funds to a North Korean account at a Russian commercial bank via the U.S. Federal Reserve Bank in New York.

The newspaper stressed that North Korea invited the International Atomic Energy Agency (IAEA) officials before the North's frozen funds at a Macau bank were fully transferred.

North Korea sent invitations to the officials from the IAEA last Saturday, saying the banking dispute was almost resolved.

A group of IAEA officials are to travel to the North Korean capital early next week to set up another trip by the organization's nuclear monitors to the North to verify and monitor the shutdown of the Yongbyon facilities.

"(North) Korea showed its willingness to take action right away after the U.S. government was set to resolve the issue via the U.S. Federal Reserve Bank of New York," it said. "North Korea was ready to respond to the U.S.'s determination."

The newspaper quoted Kim Kye-kwan, the North's vice foreign minister, as saying, "We won't need to equip ourselves with a nuclear weapon if there is no nuclear threat."

The newspaper also said that when the IAEA officials visit (North) Korea, it would be a great step towards the denuclearization of the Korean peninsula.

(Yonhap)