895B.10/10–1051: Telegram
The Secretary of State to the Embassy in Korea
276. Dept today presented Yang with check for $12,155,714 who accepted the terms of payment as contained in aide-mémoire by signing [Page 1011] receipt set forth in Deptel 238.1 Dept issued fol press release which was agreed with Amb Yang:
“The United States has paid to the Government of the ROK $12,155,714 in settlement for 63,051,922,270 won, Korean currency which has been made available by the ROK through Jul 31, 1951 for direct sale to US personnel, for their personal expenditures, it was announced today by the Depts of State, Defense and Treas.
“The payment is without prejudice to settlement for other amounts of currency made available by the ROK under terms of the Financial Agreement of Jul 28, 1950.
“The Financial Agreement provides that negots for settlement of any claims shall be deferred to a time or times mutually satis to the US and to the ROK. The payment to the Govt of the ROK at this time is intended to assist the Korean Govt in supplying essential commodities for the war-torn Korean economy, over and above the types of relief supplies being brought in by the UN Command.”