Staggering Agreement on Economy Cooperation
between two Koreas
It is shocking that there may be the likelihood of Pyongyang to put off the agreement on economic cooperation between Hyundai group and the Chosun Asian Pacific Committee.
After the announcement by Pyongyang on Oct. 20, Hyundai group strongly denied the possibility of being dismantled, explaining the agreements in detail: Railroad Connection between the two Koreas, Communication Business, Energy Facilities, Tongchon Airfiled Construction, Irrigation of Mt. Geumgang Reservoir, Development of Attractions, and Imjin River Construction.
Of these seven agreements, only the Railroad Connection project is underway, but the others have never been negotiated so far, according to Hyundai.
North Korea confirmed those agreements around March, 2003, saying, “According to the agreement documented on August 22, 2000, Pyongyang guaranteed Hyundai priority with seven projects over 30 years.” This announcement meant that Hyundai would get a monopoly on the seven projects, but Pyongyang’ standpoint has totally changed after Vice-President Kim of Hyundai group was dismissed.
On the TV, North Korea said, “Those seven projects could be changeable and eclectic in need,” adding, “Under the circumstances of the former point man on business, we couldn’t be bound in it.”
During the session of the National Assembly, Unification Minister Chung said, “Even though a specific conglomerate made an agreement with North Korea, it is not automatic for governmental policies to be reversed.”
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 / 입력시간: 2005. 10.22. 08:31
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