Sinp'o is a quiet coastal town on the edge of the Japan Sea in North Korea, almost two hours by helicopter from the capital Pyongyang. There is a beautiful swath of unspoiled beach, edged with bushes and shrubs typical of marine margins, and clusters of shabby houses and farms littered across the landscape.

Curious. After all, Sinp'o is supposed to be the site of the Kumho nuclear plants, two light-water reactors due to go into operation in 2003, otherwise known as the Korean Energy Development Organization project.

The eight-year KEDO project is seven years behind schedule and continuing to slow. The holdups have been political, financial and administrative.