Companies apply to visit Kumgang

Home > National > Politics

print dictionary print

Companies apply to visit Kumgang

South Korean companies with real estate in Mount Kumgang, North Korea, applied for permits to visit the North at the Ministry of Unification in response to its threat to confiscate properties at the scenic resort, Hyundai Asan Corporation said in a release yesterday.

Among the 33 organizations that applied for a visit are Hyundai Asan, Korea Tourism Organization and Emerson Pacific Group. A total of 52 people from the organizations will travel to the North today and tomorrow.

North Korea’s Asia-Pacific Peace Committee said in a March 18 statement that it would examine all real estate at the Mount Kumgang resort held by South Koreans and called a meeting of the owners tomorrow. It also warned that it would confiscate any property whose representatives did not visit the resort by 11 a.m. tomorrow. “The assets of those who do not come by the specified date will be seized and they won’t be able to come back to Mount Kumgang,” the committee said.

The committee also said on March 4 that it would abolish all tourism-related contracts with the South unless South Korea sent tourists to Mount Kumgang and Kaesong, the ancient capital of Goryeo Dynasty (918-1392).

South Koreans hold 359.3 billion won ($316 million) worth of property in Mount Kumgang. Hyundai Asan owns hotels and restaurants; Korea Tourism Organization holds hot springs and performance halls; and Emerson Pacific has golf courses, among others.

“We don’t know what North Korea would do,” said a KTO spokesperson. “We will go and see what happens.”


By Limb Jae-un [jbiz91@joongang.co.kr]

More in Politics

Justice minister suspends top prosecutor, accuses him of illegal surveillance, ethical violations

Seoul welcomes Blinken as a knowledgeable top envoy

PPP suggests slashing 'Korean New Deal' budget for 3rd round of relief grants

Former four-term DP lawmaker named as ambassador to Japan

Two women emerge as frontrunners in Seoul mayor race

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now