Seoul, South Korea (CNN) -- North Korea has agreed to hold property talks with South Korea, after it earlier threatened to seize all assets at a scenic mountain resort.
Pyongyang proposed to hold talks at the Mount Kumgang resort on Wednesday, according to the South's Unification Ministry.
The joint project was started in 1998 to boost reconciliation and give North Korea a chance to earn money.
Seoul suspended tours in 2008 after a South Korean tourist was shot dead by a North Korean soldier after walking into an off-limits area.
In retaliation, Pyongyang threatened to seize all assets at the resort if the South did not hold talks with the North by July 13.
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