Bill Clinton: “Good afternoon. Today I want to announce an important step forward in the situation in North Korea. This afternoon we…”

“Good afternoon. Today I want to announce an important step forward in the situation in North Korea. This afternoon we have received formal confirmation from North Korea that it will freeze the major elements of its nuclear program while a new round of talks between our nations proceeds. In response, we are informing the North Koreans that we are ready to go forward with a new round of talks in Geneva early next month. North Korea has assured us that while we go forward with these talks it will not reload its 5-megawatt reactor with new fuel or reprocess spent fuel. We have also been assured that the IAEA will be allowed to keep its inspectors and monitoring equipment in place at the Yongbyon nuclear facility, thus allowing verification of North Korea's agreement. We welcome this very positive development which restores the basis for talks between North Korea and the United States. In addition to addressing the nuclear issue, we are prepared to discuss the full range of security, political, and economic issues that affects North Korea's relationship with the international community. During these discussions we will suspend our efforts to pursue a sanctions resolution in the United Nations Security Council. We also welcome the agreement between South Korea and North Korea to pursue a meeting between their Presidents. I would like to thank President Carter for the important role he played in helping to achieve this step. These developments mark not a solution to the problem, but they do mark a new opportunity to find a solution. It is the beginning of a new stage in our efforts to pursue a nonnuclear Korean Peninsula. We hope this will lead to the resolution of all the issues that divide Korea from the international community. In close consultation with our allies, we will continue as we have over the past year and more to pursue our interests and our goals with steadiness, realism, and resolve. This approach is paying off, and we will continue it. This is good news. Our task now is to transform this news into a lasting agreement.”