S. Korean businessmen discuss investment in N.K. with regional counterparts

SEOUL, May 16 (Yonhap) -- South Korean corporate representatives held talks with their U.S. and Japanese counterparts over a possible joint investment in North Korea, a local business lobby said Wednesday.

The Federation of Korean Industries said South Korean businessmen had meetings with corporate representatives from the United States and Japan in Washington this week over developments taking place on the Korean Peninsula.

U.S. Secretary of State Mike Pompeo has said the U.S. could allow the American private sector to invest in North Korea if the regime agrees to fully dismantle its nuclear weapons program.

The remark was made after he returned from a trip to Pyongyang last week, where he met with North Korean leader Kim Jong-un to prepare for the June 12 summit between U.S. President Donald Trump and Kim.

South Korea has said it can provide economic support if Pyongyang follows through on its announcement to give up its nuclear weapons program.

The two Koreas, meanwhile, had planned to hold high-level talks Wednesday, until the North abruptly canceled the plan earlier in the day and even threatened to pull out of the summit with the U.S. set for next month in Singapore.

South Korea expressed regret over the North's unilateral decision and called on Pyongyang to return to dialogue as soon as possible.

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