Hyundai cancels 12 Mt. Kumgang cruises

Hyundai Merchant Marine (HMM) said Friday that it had cancelled 12 out of 20 trips to Mt. Kumgang scheduled for its fleet of cruise ships and speed boat between May 1 and May 15. During the period, cruise ship ``The Kumgang`` would remain in operation on May 1, 4, 7, 10, 13, cruise ship ``The Pungak`` on May 3 and speed boat ``The Solbong`` on May 3 and 15, officials said.

They blamed a drop in the number of tourists for the cancellation. The number of tourists to the scenic mountain in North Korea totaled to 6,472 in January, 7,349 in February, 10,443 in March and some 6,000 in April (estimation), less than half as in the same periods of last year.

Reports have it that HMM officials are now considering a plan to lend a couple of the cruise ships, which it borrows for four year periods from foreign shipping companies, to a third party. Recently HMM asked the Hyundai Group to transfer the Mt. Kumgang tourism program to other Hyundai affiliates after it was requested by creditors to give up the business. The group is now reportedly reviewing a plan to transfer the tourism business, including the mobilization of tourists and shipping, to Hyundai Asan Corp.

Lee Byong-Ki eye@donga.com