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N.Korea Seizes S.Korean Assets, Warns Of War

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posted on Apr, 23 2010 @ 04:54 AM
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N.Korea Seizes S.Korean Assets, Warns Of War


www.mysinchew.com

SEOUL, April 23 (AFP) - North Korea seized South Korean-owned assets at a mountain resort Friday, warning that the two countries were on the brink of war over the sinking of a warship on their disputed border.

The communist state also declared that highly symbolic cross-border tours to the scenic Mount Kumgang resort had been halted for good, accusing South Korean President Lee Myung-Bak of pursuing "confrontation" with the North.

"The situation has reached such extreme phase that it is at...
(visit the link for the full news article)


Related News Links:
english.ruvr.ru




posted on Apr, 23 2010 @ 04:54 AM
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Doesnt look good at all in Korean. By the latest news both Army and South Korean secret service has made their opinions - and they are accusing North Korea from sinking their ship:

SKorea intel agency blames North for ship sinking
www.ptinews.com...

Military blames North for sinking ship
www.vancouversun.com...

North Korea can not hide their actions any longer, and looks like their provocation are going to next level - "...Defending NK from South Korean blames and their counter actions!"

What can change this path from breaking to all out war? Just think about its impacts to worlds economy - China called this sinking of the warship yesterday by words "...terrible accident" - Yeah, right!

What ever happen in Korea - It will be like next volcano erruption, and ash will fall all over the world. It will stretch US Forces to their operational limits and change the playing field in Midle East over night... Focus will turn in that moment away from Itanian threat when the big guns starts to crash Seoul.

Was that one of the purpose for sinking that boat in first place? I hope not - and peace will prevail in both Koreas, China will take strong actions to prevent war from hapening.

www.mysinchew.com
(visit the link for the full news article)

[edit on 23-4-2010 by JanusFIN]



posted on Apr, 23 2010 @ 05:16 AM
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Lets take a look to South Korean international companies and corporations, and watch the impact of possible war to world wide economy. What I see here is a looming tsunami in worlds economy - Just think if all these companies will change suddenly to wartime industry, and their exports are closed to domestic use - many of factories destroyed after just few weeks and money, wealth pulled out from markets. Stock value of these industries and companies will hit to bottom... South Korea small country but econimical giant and I think North Korea can make to world very bad with its heavy artillery located near Seoul...

The 10 largest South Korean companies by market value in 2009 were Samsung Electronics, POSCO, Hyundai-KIA Motor, KB Financial Group, Korea Electric Power, Samsung Life Insurance, Shinhan Financial Group, LG Electronics, Hyundai Mobis, LG Chem.[71][72]

Samsung Electronics - Semiconductors
Korea Electric Power - Utilities
Hyundai Motor - Consumer durables
Posco - Materials
Kookmin Bank - Banking
Woori Finance Holdings - Banking
SK Corp - Oil & gas operations
LG Electronics - Consumer durables
Shinhan Financial - Banking
KT - Telecommunications services
Hana Financial Group - Banking
Hynix Semiconductor - Semiconductors
Korea Exchange Bank - Banking
Industrial Bank of Korea - Banking
S-Oil - Oil & gas operations
Hanwha - Trading companies
Samsung Fire & Marine - Insurance
Hyundai Mobis - Consumer durables
Samsung SDI - Business services & supplies
Hyundai Heavy Industries - Capital goods
Shinsegae - Retailing
Korean Air - Transportation
LG Chem - Chemicals
Korea Gas - Utilities
Samsung - Trading companies
GS Holdings - Diversified financials
Hanjin Shipping Transportation
KT&G - Food, drink & tobacco
Hyundai Steel - Materials
Daewoo Ship & Marine - Capital goods
Dongkuk Steel Mill - Materials
Daewoo Engineering - Construction
KKPC-Korea Kumho - Chemicals
LG Corp - Diversified financials
Hyundai Merchant Marine - Transportation
LG Card - Diversified financials
Daelim Industrial - Construction
Doosan - Trading companies
Hyundai - Eng & Const Construction
Samsung Heavy Industries Capital goods
LG International - Trading companies
Daewoo International Trading companies
Daegu Bank - Banking
Hyosung - Household & personal products
Pusan Bank - Banking
Hanwha Chemical - Chemicals
Tong Yang Major - Construction
CJ - Food, drink & tobacco
Honam Petrochemical - Chemicals
Kangwon Land - Hotels, restaurants & leisure
www.economywatch.com...

We all have their products, investments, financing... Just think about it.



posted on Apr, 23 2010 @ 05:21 AM
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Good God! Things are shaping up to be a REALLY WEIRD summer. All I can see is two more generations of bosbefok, at least, as a result of this. It's all over. Iran. Syria. Russia and the Katyn 2 incident. God. This is not leading up to rainbows and puppy dogs. Darn. And I thought that Obama was going to make it rain candy and fix all the worlds problems in his first 100 days. It's just getting worse than it was before. Oh well.



posted on Apr, 23 2010 @ 05:39 AM
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Geo-Political: South Korean President Kim has put forward the clearest signal yet that he does not plan to make a unilateral military response against North Korea. Leaked documents from the South Korean military, stating that the sinking of the Cheonan was almost certainly the due to a North Korean torpedo attack has dramatically raised military tension between the two states. Analysts have noted that Kim is in a difficult position; military action against the North would certainly frighten financial markets and jeopardize a developing economic recovery. The issue will also sit heavy on local/regional elections that are set for June.


source

We can only hope for the best, but it seems that North Korea does everything to push it to the limit.

S&F



posted on Apr, 23 2010 @ 05:43 AM
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reply to post by JanusFIN
 


Good break down on the manufacturd imports!


But also the obvious implications of imports from neighbouring countrys.
Think of all the goods that come from China by Sea and Air. If they have to dodge war ships in the Sea of Japan and the Yellow sea, aswell as Anti-aircraft weapons, it'll certainly be dissastorus!

The only point worth mentioning that may be good economically is that countrys like USA, UK and all Europe etc will either have to trade more with each other or industrialise and create imported goods their-selfs. (but thats just my oppinion.)

[edit on 23/4/10 by Esrom Escutcheon Esquire]



posted on Apr, 23 2010 @ 05:43 AM
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We seem to be living in an era of risk all, gambles.. and like all gambling, the bank always wins..

Sorry am in a cynical mood today..



posted on Apr, 23 2010 @ 05:48 AM
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Originally posted by Esrom Escutcheon Esquire
reply to post by JanusFIN
 


Good break down on the manufacturd imports!


But also the obvious implications of imports from neighbouring countrys.
Think of all the goods that come from China by Sea and Air. If they have to dodge war ships in the Sea of Japan and the Yellow sea, aswell as Anti-aircraft weapons, it'll certainly be dissastorus!

The only point worth mentioning that may be good economically is that countrys like USA, UK and all Europe etc will either have to trade with each other or industrialise and creat imported goods their-selfs. (but thats just my oppinion.)


I'd be interested to know what is in the hundreds of ships anchored around the world.. have enough goods already been created and stored on those ships to see us through a short conflict? got to keep the consumer fed!

This news can not come out of a the blue to most of these big corporates, given the amount of politico's and ex-politico's that also sit on the big corporate boards.. I am sure they have plans for this type of thing..

[edit on 23/4/10 by thoughtsfull]



posted on Apr, 23 2010 @ 05:48 AM
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reply to post by RowdyRhodie
 

Dont forget what Obama made by selling weaponry to Taiwan, meeting Dalai Lama and accusing China from their actions in money markets. Pushing Iran sanctions is causing damage to Chinese economy, which needs all the oil what it can get from there. What I see is that world is breaking to two alliances.



posted on Apr, 23 2010 @ 05:53 AM
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reply to post by JanusFIN
 


Could this be a catalyst to war?
Everyones focused on Israil and Iran yet War may start between North and South Korea.



posted on Apr, 23 2010 @ 05:57 AM
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(4th LD) Seoul denounces N. Korea's seizure of assets at Mount Kumgang


South Korea denounced North Korea's decision Friday to seize five South Korean facilities at a mountain resort on its soil and warned that Pyongyang will be held responsible for the deterioration of inter-Korean relations.

"It is an illegal and unreasonable measure that undermines the very foundation of the South-North relations," a spokesman for South Korea's Unification Ministry said in a statement after Pyongyang said it will seize the South Korean assets at Mount Kumgang.

"The North has proven itself to be an unfit partner for normal business and transactions," it said.

North Korea also said other non-state South Korean assets at Mount Kumgang will be frozen, and that all employees from the South at the resort will be expelled. The measures were seen as aimed at pressuring Seoul to resume the suspended mountain tour program that had been a source of foreign currency for Pyongyang.

Seoul said it will take "strong measures" against the North. It did not elaborate.

"We cannot accept the (North's) measures, as they are in violation of contracts between North Korea and our businesses, agreements between the governments and of international laws. It is an unjust step that undermines the very foundation of South-North relations," a ministry official told reporters.

The North's move came at the end of a two-day inspection by North Korean military officials of the mountain resort, where dozens of South Korean businesses and private investors own various facilities that are part of the suspended tourism program.

The five facilities to be seized include a family reunion center, funded and owned by Seoul's National Red Cross, as well as a fire station and a duty free shop. They also include a cultural center and a hot spring resort, both owned by Seoul's Korea Tourism Organization.

Pyongyang froze the assets, worth some 124 billion won (US$112 million), on April 13 after an on-site inspection by its officials late last month. The latest inspection ended Friday.

"First, we will confiscate all five assets of the South Korean authorities that have already been frozen in compensation for our loss due to the long suspension of the tour," an unidentified spokesman for the General Guidance Bureau for the Development of Scenic Spots said in a statement carried by the North's official Korean Central News Agency.

The once lucrative tourism program for the impoverished North was suspended in July 2008 after a South Korean tourist was shot dead by a North Korean guard near a restricted area. Nearly 2 million South Koreans had visited the mountain resort since the tours began in 1998.

"The confiscated real estate will be put into the possession of the DPRK or handed over to new businessmen according to legal procedures," the statement said, referring to North Korea by its official name, the Democratic People's Republic of Korea.

The North said early last month that it will restart the tourism program with a new business partner unless Seoul agreed to resume the tours before the end of April.

"The situation has reached such an extreme phase that it is at the crossroads of a war or peace, much less thinking of the resumption of the tour. It is quite natural that we can no longer show generosity and tolerance to the south side under this situation," the statement said.

Friday's measure also included freezing of all assets owned by over 30 South Korean businesses and private investors.

Hyundai Asan, the main South Korean developer of the joint mountain resort, urged the North to withdraw its decision and the governments of the two Koreas to resolve the issue through dialogue.

"The road to Mount Kumgang must not be severed as the tours greatly helped promote cooperation and reconciliation between the South and the North and peace on the Korean Peninsula," the business group said in a statement.

"We also urge our government to actively seek a solution to the current situation, as the joint economic cooperation project of the South and the North, as well as properties of businesses that invested in Mount Kumgang, now sit on the verge of a breakdown," the statement said.

North Korea also accused the South of trying to link the regime to the recent sinking of a South Korean warship near the tense border with the communist nation in the Yellow Sea.

South Korea "went the lengths of crying out for the total severance of the North-South relations and trumpeting about 'not ruling out a war' while deliberately linking the sinking of its warship to the DPRK," it said.

Suspicions over North Korea's involvement in the March 26 sinking of the warship Cheonan grew after investigators here said an external explosion likely caused the tragic incident that left 39 of the ship's 104 crew confirmed dead and seven others missing.

North Korea said it will take "more rigid follow-up measures" if the Seoul government tries to take any actions against its seizure and freezing of South Korean assets at Mount Kumgang.

Either Kim Jong Il is doing this in the lead up to giving the power to his son... . want to scare South Korea into not attacking or has blown a fuse...

Let's hope China take cares of North Korea before they do something stupid as it is in their contingency plans.



posted on Apr, 23 2010 @ 06:00 AM
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reply to post by Mdv2
 

Looks like NK is not asking if SK wants this war or not. There is no sense that SK would want this to happen - It has everything to loose, even if they win all the battles. Their infrastructure and educated population is worth hundreds of times comparing to nothern neighbor, and war will be so expensive, that there is no victory ahead of them - even they conquer whole Pyongyang by war.

Making world economy to suffer - NK will hit us all.

Lets remember that it was just yesterday when Iran made a deal with NK from cooperation. I see that these battlefronts are highly connected to each others, and what is happening in these possible two wars beginning at same moments in very different places, have same strategical reasons.



posted on Apr, 23 2010 @ 06:07 AM
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Originally posted by JanusFIN
Was that one of the purpose for sinking that boat in first place? I hope not - and peace will prevail in both Koreas, China will take strong actions to prevent war from hapening.

Such as??


Originally posted by Esrom Escutcheon Esquire
reply to post by JanusFIN
 

But also the obvious implications of imports from neighbouring countrys.
Think of all the goods that come from China by Sea and Air. If they have to dodge war ships in the Sea of Japan and the Yellow sea, aswell as Anti-aircraft weapons, it'll certainly be dissastorus!

Yes, for china. Isn't that the whole idea?


The only point worth mentioning that may be good economically is that countrys like USA, UK and all Europe etc will either have to trade more with each other or industrialise and create imported goods their-selfs. (but thats just my oppinion.)

Exactly! Starred for your take on those two points.



posted on Apr, 23 2010 @ 06:09 AM
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Here's a question Obama might face real soon... maybe even today.

China will ask him : Chose well my apprentice.


A) We take over North Korea, but in exchange, you leave South Korea and we (annex) do a unified Korea. Do you want millions dead and the world economy in shamble or a unified Korea and peace? And in exchange, we continue buying US dollars.

B) We help North Korea invade the South, the world economy is destroyed, thousands of US troops die, millions of SK civilians die, you have to do a draft and you lose the next election...but the North don't use nukes.

C) We don't help North Korea and they use nukes. Making nuclear war a reality. (this is a bluff since China wouldn't want nuclear war on their border)

D) Or you trust North Korea and all their warmongering and their recent provocations against South Korea to start war.

E) Edit: We stop North Korea from starting a war, but you must withdraw your troops at once.

What will Obama choose?

[edit on 23-4-2010 by Vitchilo]



posted on Apr, 23 2010 @ 06:22 AM
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Originally posted by JanusFIN
reply to post by RowdyRhodie
 

Dont forget what Obama made by selling weaponry to Taiwan, meeting Dalai Lama and accusing China from their actions in money markets. Pushing Iran sanctions is causing damage to Chinese economy, which needs all the oil what it can get from there. What I see is that world is breaking to two alliances.




Why do you think the world gets divided into two camps?, there are also people who have a lot of other stuff on their mind then war and South Korean trash and toys, and especially their ugly cars.For example the EU and what to do with Greece. Let them all have it in Korea and the Middle east, i couldnt care less, don't bother us with it.



posted on Apr, 23 2010 @ 06:35 AM
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reply to post by Jazzyguy
 

Great game, my friend.

I see that China is only country witch can pressure NK to calm down. They can also force NK to calm down, if needed. But all western movements in region will just push tensions further - and for real NK cant make any larger moves without Chinese approval.

I see that here can be hided Chinese strategical sword from beginning of this crisis... Possible false flag done by Chinese with sinking that ship too - Who really benefit from this crisis?

If, and when West will turn to Chinese officials with asking them to ease situation in Korea, and asking them to prevent this war from happening - they really can do it - but with what is the pricetag for that?

I see that question about Iran and also Taiwan, along with maybe some others will be soon involved in these discussions - and USA will need to give something away, to achieve something else. Dont forget that we are talking about western worlds economy here - and I think China, witch is totally cancelled its military cooperation with USA, and they loudly threaten USA with counter measures after latest Taiwan weapon sales - they will make their best in this situation to pressure USA under their own political needs.

Why not? - USA can only start a war there, where SK and banksters of west will loose very much. USA can only drive the situation from bad to worst, but Chinese can solve this crisis out without almost any impacts - because SK dont want this war and NK will do as they say.

I see that threat of war in Korea will harm much more western interests than Chinese or Russian interest, so I also see that ball is now in western hands - Do they really want to peace in Korea - then they maybe need to pull out in Middle East, and from Taiwan.

Just thinking - SCO and BRIC are tough players in other side, will USA/EU/Israel handle these kind of hard political gambles?



posted on Apr, 23 2010 @ 06:42 AM
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On New Years Eve earlier this year, I had a really bad feeling in my stomach about 2010 and wasn't in the mood for celebrating at all.

I have stocked up on tons of food / water supplies, now have solar power to the house and other gadgets and basically am ready for WW3 to kick off.

I also purchased a huge new TV and subscribed to Fox News so I can hopefully sit back for a while and watch the muppets in Korea with maybe the religious idiots in the Middle East at the same time all fighting.

With all the goings on around the World, it's like steam has been brewing up and will be released very soon, it's got to happen and probably needs to happen to calm everybody down again!

ATS is on all the time on my computer and speaking to other Amateur Radio Hams around the World, we seem to only be getting half the news on what is actually going on.

Oh dear, not good!



posted on Apr, 23 2010 @ 06:43 AM
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More news on this people!

www.nytimes.com...




posted on Apr, 23 2010 @ 06:45 AM
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i'm not a christian but the 1st thing that came to mind is this quote from the bible:

You will be hearing of wars and rumors of wars. See that you are not frightened, for those things must take place, but that is not yet the end.



posted on Apr, 23 2010 @ 06:49 AM
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Also the important thing is that there's election in South Korea in June...

Now let's hope a warmongering pro-war nutjob don't come into office.



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