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It has given South Koreans 72 hours to quit the resort at Mount Kumgang, which lies just inside North Korea.


Officials said they were legally disposing of South Korean
assets such as real estate, equipment and vehicles, considering them
abandoned.


Joint operations were suspended in 2008 after a South Korean tourist was shot dead by a North Korean soldier.


The announcement came via the North's state news agency that
as of Monday morning no materials or property could be taken from the
South side of the resort, and all personnel should leave within 72
hours.


"We consider that the South has completely given up all
rights on properties owned by South Korean companies and now start legal
disposal of them," KCNA said in a statement.


North Korea has been threatening to seize South Korean assets at Mount Kumgang for months.


It recently invited South Korean representatives for talks on
reopening the site, but both sides remain divided over how to deal with
the fatal shooting of a South Korean tourist who had strayed into a
military area, which led to the South suspending its activities there.



North Korea is keen to boost its economy, in the face of dwindling aid and reportedly severe food shortages inside the country.


Tens of thousands of tourists used to visit the Mount Kumgang
site every year, paying in dollars, providing a significant source of
hard currency for North Korea.