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UN Security Council Meeting on Korea Tension Ends Without Accord

Korean Won, Stocks, Bonds Drop on Bank Levy
South Korea’s won and stocks dropped the most in more than three weeks and bonds fell after the government proposed tighter curbs on capital flows and military tensions with the North damped demand for the nation’s assets. Photographer: Tomohiro Ohsumi/Bloomberg

The United Nations Security Council failed to agree on a statement to ease tension on the Korean peninsula, Russian ambassador Vitaly Churkin said.

“We have a situation of very serious political tension and no game plan on the diplomatic side,” Churkin told reporters in New York today after the 6-hour meeting.

Churkin urged South Korea not to conduct planned live-firing drills today on an island that North Korea shelled last month. He said he wants the UN Secretary General to appoint a special envoy to Korea.

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