Posted February. 26, 2001 14:39,
Hyundai Group is expected to avoid the need to suspend its money-losing Mt. Kumgang tours.
A high-ranking Hyundai official said Sunday, ``We will continue negotiations with North Korea after sending $6 million, half of the total monthly tourism fee, to the North Monday.``
Chung Mong-Hun, chairman of Hyundai Asan Corporation, the Hyundai Group`s North Korean business arm, returned home empty-handed from his trip to the North on Feb. 23, but said the situation was not serious enough to warrant discussions of suspending the tours.
``Neither Hyundai nor North Korea wants to suspend the tour program,`` he said, noting that additional negotiations would take place soon.
Hyundai also plans to hold talks with the North on pending projects such as the construction of Kaesong industrial complex, due to begin in April, and the one-day Kaesong tour that is scheduled to kick off in September.
Working-level officials remain at Mt. Kumgang to keep open the dialogue channel with North Korea, Hyundai said Sunday.