CANBERRA, Australia, January 22, SPA -- North Korea can no longer afford its embassy in Australia and will close it at the end of January, an official said Tuesday. Pak Myong Guk, North Korean Embassy spokesman and Pyongyang's most senior representative in Canberra, blamed the decision on financial hardship created by flooding in his homeland. «It is very expensive to stay here in Australia,» Pakwas quoted as saying by the Associated Press. «When our financial situation is to be resolved, then Ithink our embassy will be re-established again here inCanberra,» he said. Foreign Minister Stephen Smith's office confirmed thatPyongyang decided to close the embassy, which it opened in 2002 after the two countries resumed diplomatic tiesfollowing a 25-year rift. «While the closure of any embassy is regrettable, we will continue to maintain diplomatic relations with theDemocratic People's Republic of Korea through our embassy in Beijing which is accredited to the DPRK,» Smith's spokesman Andrew Dempster was quoted as saying by the Associated Press.--SPA www.spa.gov.sa/519997