North Korea prepares to shut down nuclear facility

North Korea has stated to delegates at international nuclear talks on Saturday that it is preparing to shut its nuclear facility.

Pyongyang made the announcement in Beijing, which is a key step in a landmark pact agreed last month.

The February agreement under which North Korea agreed to shut down Yongbyon, its main nuclear reactor and processing facility, will allow U.N. inspectors in for verification by April 14.

South Korean nuclear envoy Chun Yung-woo broke the news to reporters and stated will disable its nuclear facility "as soon as the right conditions are created".

But North Korea's main negotiator Kim Kye Gwan had said just a few hours earlier that his country would not stop its nuclear activities unless all of the $25m of its money frozen in a Macau bank is released.