News

JOONG-ANG ILBO, Seoul, ROK
Sunday, January 5, 1997

WASHINGTON APPROVES 500,000 TONS OF GRAINS IN EXPORTS TO NORTH KOREA

The Clinton administration approved an application by a multinational grain exporter to sell 500,000 tons of rice and wheat to North Korea, it was announced Friday. A company spokesman said the way for exports to the North has opened with the U.S. government's approval of an exception to the strict economic sanctions applied against the North for the past 47 years. An official at the U.S. Treasury Department who requested anonymity also said that the government gave the final approval on December 30 last year, allowing the company to provide grain to North Korea in exchange for minerals.

INTER-KOREAN SUMMIT TALKS COULD TAKE PLACE BY THIS YEAR'S END

Korean watchers are predicting a summit meeting between the heads of both Koreas could take place by the end of the year now that North Korea has issued a formal apology over the submarine incident, the Financial Times reported Friday. The newspaper commented in an article entitled "Long Korean Winter Shows Signs of Spring" that the brief apology from the North consisting of two sentences brought changes to the political climate of the Korean peninsula.