Text from North Korea statement

SEOUL (Reuters) - North Korea announced on Tuesday it was cutting all ties with South Korea in retaliation for Seoul imposing sanctions on Pyongyang after torpedoing one of the South's warships.

The following are key points from the text of the report issued by the North's KCNA news agency.

"The Committee for the Peaceful Reunification of Korea, accordingly, formally declares that from now on it will put into force the resolute measures to totally freeze the inter-Korean relations, totally abrogate the agreement on non-aggression between the north and the south and completely halt the inter-Korean cooperation.

"In this connection, the following measures will be taken at the first phase:

"1. All relations with the puppet authorities will be severed.

"2. There will be neither dialogue nor contact between the authorities during (South Korean President) Lee Myung Bak's tenure of office.

"3. The work of the Panmunjom Red Cross liaison representatives will be completely suspended.

"4. All communication links between the north and the south will be cut off.

"5. The Consultative Office for North-South Economic Cooperation in the Kaesong Industrial Zone will be frozen and dismantled and all the personnel concerned of the south side will be expelled without delay.

"6. We will start all-out counterattack against the puppet group's 'psychological warfare against the north.'

"7. The passage of south Korean ships and airliners through the territorial waters and air of our side will be totally banned.

"8. All the issues arising in the inter-Korean relations will be handled under a wartime law.

"There is no need to show any mercy or patience for such confrontation maniacs, sycophants and traitors and wicked warmongers as the (South Korean President) Lee Myung Bak group."

(Reporting by Jonathan Thatcher; Editing by Paul Tait)