Samsung, Hyundai in Moon’s plan to wean Kim off nukes with cash
Seoul dangles the carrot of investment as business leaders join South Korean President Moon Jae-in in Pyongyang for third inter-Korean summit with Kim Jong-un
“Just as in the past, when Hyundai [Asan Projects] spent a lot of money on North Korean infrastructure building hotels and roads about two decades ago.”
In the early 2000s, through previous agreements between South Korea’s then-president Roh Moo-hyun and the late Kim Jong-il, Hyundai was a notable investor in the development of the Mount Kumgang Tourist Region and Kaesong Industrial Park in the North.
“North Korea specifically wanted the [chaebol] presence at the talks … but I cannot imagine the chairpersons will have any counterparts in the North to discuss economic cooperation between North and South Korean companies,” said Kim Jin-young.