The three masked bandits descended upon the armored vehicle, overpowered the two soldiers on guard duty, seized 200 kilograms of gold bars worth U.S.$12 million and rode off into the North Korean countryside, sources inside the country said.

Authorities declared a state of emergency in Sinuiju, Hyesan, and other border cities as they searched desperately for the robbers and their loot, sources living near the cities told Radio Free Asia’s Korean Service on condition of anonymity for security reasons.

The US Administration is open for a ‘serious and sustained’ dialogue with the authorities of North Korea without any preconditions, White House National Security Adviser Jake Sullivan said.

"We are open to serious and sustained dialogue with the DPRK," he said. "We've made clear in both public and private communications that we have no hostile intent towards the DPRK, we are prepared to meet without any preconditions."

Washington and Seoul are reportedly discussing plans to ramp up anti-submarine military exercises set to begin next year. The talks came amid soaring tensions in the region, and just days before North Korea pledged to further develop its nuclear arsenal. 

South Korea has scrambled fighter jets after two Chinese and six Russian warplanes entered its air defence zone.

Two Chinese H-6 bombers along with four Russian TU-95 bombers and two SU-35 fighters buzzed the Korea Air Defence Identification Zone (KADIZ) in a joint show of force.

The move shows the growing ties between war-mongering Russia which is simultaneously slaughtering civilians in Ukraine, and China which has its own territorial ambitions in Taiwan.

South Korea’s President Yoon Suk-yeol said that Tesla would get “tailored” incentives if it decides to establish its next gigafactory in the country. Elon Musk recently noted that South Korea was a top candidate for the next Tesla gigafactory location. 

North Korean leader Kim Jong Un says his country's ultimate goal is to possess the world's most powerful nuclear force at the launch of his country's largest ballistic missile.

The announcement comes after Mr Kim inspected a test of the country's new Hwasong-17 intercontinental ballistic missile (ICBM), and pledged to counter US nuclear threats with nuclear weapons.

The influential sister of North Korean leader Kim Jong Un warned the United States on Tuesday that it would face “a more fatal security crisis” as Washington pushes for U.N. condemnation of the North’s recent intercontinental ballistic missile test.