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Government Could Subsidize Hyundai’s Mt. Baekdu Tour Business

Government Could Subsidize Hyundai’s Mt. Baekdu Tour Business

Posted July. 19, 2005 03:22,   


Hyundai Asan, which is planning to develop travel packages to Mt. Baekdu that were confirmed by an agreement between North Korean National Defense Committee Chairman Kim Jong Il and Hyundai Group Chairwoman Hyun Jung-eun, has decided to ask the government for financial assistance for this development.

In response to this, a high-ranking official said, “To help a private company (Hyundai Asan) which has made a great achievement for this nation, the government plans to develop measures that can support their business.” However, on the other side, some expressed their worry over the injection of government funds into a private tour business.

A source from Hyundai Asan said yesterday, “In order to prepare Mt. Baekdu for tourists coming in by air, we need a large-scale investment to equip the area’s infrastructure, such as repairing the airstrip of Samjiyeon Airport. However, the amount is too much for a single private company to cover,” adding, “We anticipate that the government will offer us financial assistance for this.”

Joong-Hyun Park sanjuck@donga.com