The Korea Herald


Hyundai Group chief calls for preparedness for N. Korean business

By Korea Herald

Published : Jan. 2, 2012 - 16:19

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The chairwoman of Hyundai Group said Monday that her company needs to be well prepared for resuming its stalled North Korean business in 2012 in the aftermath of the death of the communist state’s leader last month.

Hyundai Asan Corp., the inter-Korean business arm of Hyundai Group, has operated the tour program to the North’s scenic Mount Kumgang for a decade. However, South Korea halted the tour program in 2008 following the shooting death of a South Korean tourist at the resort.

Hopes are high for the resumption of the tour business after the group’s chairwoman Hyun Jeong-eun visited Pyongyang last month to offer condolences to late North Korean leader Kim Jong-il, who died of a heart failure on Dec. 17.
Hyun Jeong-eun Hyun Jeong-eun

“Hyundai Group has a proud history of having led the South Korean economic growth and opening inter-Korean exchanges,” Hyun said in a New Year’s message to her officials. The North Korean business is now in trouble, but it’s a historic mission to lay the foundation for reconciliation and unification, she said.

“In order to prepare for the resumption (of the stalled tour program), we have to check political situations in the region such as the South-North relations and map out detailed action plans,” she noted.

Hyun also said that her company will focus on expanding its overseas business in the new year.

“We have to make inroads into emerging markets such as China, Brazil, India, Russia and Middle East,” said the chairwoman.

Hyundai Group has Hyundai Asan, Hyundai Merchant Marine Co., Hyundai Securities Co. and Hyundai Elevator Co. under its wing. 

(Yonhap News)