Analysts say North Korea still holds plutonium card

By Jon Herskovitz

SEOUL (Reuters) - North Korea's threat to restart its plant that makes arms-grade plutonium is feasible, although the task would be a daunting one, analysts said on Wednesday.

On Tuesday the communist state said that because the United States had not kept to its side of a disarmament-for-aid deal it would stop disabling a Soviet-era Yongbyon nuclear complex and was considering getting back into the plutonium business.

Moscow added its voice to the western criticism on Wednesday, with a Foreign Ministry statement expressing "concern and disappointment" at the North Korean plans.

"The North Koreans have mastered the nuclear fuel cycle. They understand the technical aspects of it," said Daniel Pinkston, an analyst with the International Crisis Group in Seoul. "They have the human resources, which is the most important."

Engineers, working since late last year and mostly overseen by U.S. experts, have almost completed disabling the Yongbyon nuclear plant. The aim is to make it impossible to resume operations for at least a year.

"The North Koreans' thinking may be: 'We can rebuild it. We can make it better and we have enough nuclear weapons to deter anyone for the one to three years it might take to get this back up and running'," Pinkston said.

The disablement work was done at three facilities -- a plant that produces nuclear fuel, the North's sole operating reactor and a plant that turns spent fuel into plutonium.

The only major remaining step was the discharging of irradiated fuel rods from the reactor. The rods are still in North Korea and contain enough fissile material for one nuclear bomb, proliferation experts said.