North Korea seizes South Korean resort

[MarketNeutral]

North Korea seized five South Korean properties in the Diamond Mountain tourist resort.

Pyongyang said it confiscated the five tourist facilities Friday because the South canceled travel there, The New York Times reports.

The properties belong to a resort that was popular with South Korean tourists until a South Korean woman was killed there in 2008. Seoul suspended tours to the destination and demanded that North Korea investigate the incident. Pyongyang has in the past called on Seoul to reopen travel.

The affair comes as tensions between both countries are mounting.

South Korea is investigating the sinking of a gunboat that went down last month near the North Korean sea border after a blast rocked the ship, which carried a crew of 104. Thirty-eight people are known to have died and eight sailors are unaccounted for.

www.upi.com/Top_News/Special/2010/04/23/North-Korea-seizes-South-Korean-resort/UPI-57841272032766

[MarketNeutral]

Is World War Three about to begin on the Korean peninsula?

“North Korea torpedoed South’s navy ship: Report” says the headline currently running on Reuters.

According to the story, the sinking of a South Korean warship on March 26 was the work of a North Korean submarine.

“It is the military intelligence’s assessment that the North attacked with a heavy torpedo,” an unnamed South Korean military source told Yonhap, the news agency. The conclusion is said to be “certain”.

Since I live in Shanghai, just a two-and-a-half-hour flight from Seoul, I suppose I should prepare for the worst. World War Three may shortly arrive.
http://blogs.telegraph.co.uk/news/malcolmmoore/100035882/is-world-war-three-about-to-begin-on-the-korean-peninsula/

[Ponce]

If the resort was in the North Korean side of the border I then have no problem with that...............is like foreign countries that keep their gold in US vaults, how stupid can you be?