S Korea regrets North Korea's rejection of "grand bargain"

Seoul, Oct. 1 (ANI): South Korea said Thursday the Democratic People's Republic of Korea (DPRK)'s rejection of the so-called "grand bargain," which Seoul proposed to Pyongyang as a measure to end the nuclear program, was regrettable.

"It is regrettable that North Korea (DPRK)'s state-run media voiced a negative response to our serious proposal," the Xinhua news agency quoted Seoul's foreign ministry spokesman Moon Tae-young, as saying at a press briefing.

The remarks came after Pyongyang's official news agency KCNA on Wednesday called Seoul's offer "nothing more than a ridiculous proposal," and "not worthy of consideration."

The offer was earlier made by South Korean President Lee Myung-bak, who said South Korea would provide the DPRK with security assurance and other incentives once the country vows to dismantle key components of its nuclear program.

With regard to the DPRK's response, however, the ministry spokesman further commented that it did not believe it was Pyongyang's formal response. (ANI)