"The media report that the North informed us of its decision to remove the asset freeze is not true," the unification ministry said in a text message sent to reporters.

South Korea closed the complex in 2016 following the North's nuclear and missile tests and had all the South Korean businesspeople leave the area. The North retaliated by freezing the assets left behind.

Speculation has been growing recently that the two Koreas might be seeking to resume the operation of the complex, once hailed as a successful inter-Korean economic cooperation.

Adding to the speculation, the Seoul government earlier said that it is talking to North Korea about a potential trip to Kaesong by South Korean businesspeople who have assets there.

The unification ministry in charge of inter-Korean affairs, however, denied any connection between the trip to Kaesong and the resumption of the industrial park.

"It has nothing to do with the resumption of the Kaesong park. We can say that it is intended for the inspection of assets in line with efforts to protect our businesspeople's right to property."

South Korean President Moon Jae-in and North Korean leader Kim Jong-un agreed in their summit last month to resume the operation of the Kaesong park as soon as conditions are met.

Global sanctions, however, are regarded as a major hurdle before the factories can be up and running again. (Yonhap)