South Korean President Roh Moo-hyun hopes to hold inter-Korean summit with Kim Jong-il, top leader of the Democratic People's Republic of Korea (DPRK after Pyongyang begins denuclearization process, the daily Hankyoreh newspaper reported on Friday.

"The summit talks must happen after the North (DPRK) begins its denuclearization process. When that happens, I will most certainly meet Kim Jong-il, even if there is only three to four months left in my term to discuss how we could help accelerate the process," Roh said in an interview with the newspaper.

Excluding the delayed settlement of the Banco Delta Asia (BDA) problem, Aug. 15 sounds like a reasonable date for the summit, Roh, who will step down in next February, added.

Roh said the timing of the summit was a critical factor. "If I signed on a document, my successor would have no other choice but accept once I have signed," he stressed.

Roh's remarks draw attention as the Banco Delta Asia bank reportedly transferred out more than 20 million U.S. dollars from a frozen DPRK accounts on Thursday.

The DPRK, which failed to shut down its main nuclear reactor by an April 14 deadline as agreed in six-party talks in February, insisted that its 25 million dollars frozen at BDA must be returned before closing the Yongbyon nuclear reactor and starting new negotiations.

The DPRK funds were frozen after the United States blacklisted the bank in September 2005 for allegedly helping Pyongyang launder money, an allegation denied by the bank. Pyongyang also denies the U.S. charges.

The first-ever inter-Korean summit was held in Pyongyang in mid-June 2000 between then South Korean President Kim Dae-jung and DPRK 's top leader Kim Jong-il.