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Tongil Gets Go Ahead for Mt. Kumgang Development with NK

Oct 13,1998
Tongil Group announced, on October 13, that it will build hotels and ski facilities at Mt. Kumgang and North Korea will expand its tourism zone to include the whole of Mt. Kumgang area. Tongil also plans to launch its first cruise ship along with Hyundai's in accordance with the North's recently announced tour program. Mt. Kumgang tours will be expensive with an average fare predicted to be 400,000 won per person because $100 dollars per fare must go to North Korea.
Park Po Hee, the head of Kumgangsan International Group (a subsidiary of Tongil) said, 'North Korea wants many South Korean companies to participate in the Mt. Kumgang tourism project. We plan to form a joint survey team with other domestic companies and visit the North. We can include foreigners and Koreans living abroad as potential tourists. Tongil has recently received a 'Certificate for Mt. Kumgang' signed by Kang Jung Mo, the North Korean trade minister. 'He added, 'Tourists can stay at a Mt. Kumgang venue and facilities will be provided in case of emergencies. We secured all administrative documents from North Korea.' However, the MOU has yet to approve Tongil's project with the North.



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