Posted on 10/25/2005 5:20:09 AM PDT by TigerLikesRooster
/begin my translation
claimed, "This is the real reason (N. Korea) scrapped Hyundai's N. Korean venture."
Unification Minister Chung (Dong-young) dismissed it saying, "Baseless allegation ... no more than an unfounded rumor)
Seoul, Yonhap (News)
2005.10.25
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| (Opposition) Hannara lawmaker Lee Bang-ho claimed on Oct. 25, 2005, during the questioning session on government, "The reason why N. Korea declared the total scrapping of Hyundai Asan's N. Korean business venture is because N. Korea demanded to have blueprints for a submarine and an Aegis ship under construction by Hyundai Shipbuilding, but Hyundai Asan refused." /Yonhap |
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Lawmaker Lee Ban-ho from (opposition) Hannara Party asserted on Oct. 25, "The reason why N. Korea declared the total scrapping of Hyundai Asan's N. Korean business venture is because N. Korea demanded to have blueprints for a submarine and an Aegis ship under construction at Hyundai Shipyard, but Hyundai Asan refused." Assemblyman Lee made such an assertion, saying, "The source close to Hyundai Asan passed this intelligence," during the questioning session on unification, foreign policy, and national security issues of government, and also during his conversation with Yonhap News.
However, he did not produce any evidence to back it up. Asked who passed such information along, he just said, "To protect the source, I cannot provide any detail on him."
During his questioning, he said, "Last July when Hyun Jong-eun, the President of Hyundai Asan, met Kim Jong-il, N. Koreans made such a proposition. However, President Hyun refused, saying, 'We could give you anything else you want, but my conscience cannot possibly allow me to agree to such a demand."
Assemblyman Lee elaborated, "As far as I know, Hyun's dismissal of (former) vice president Kim Yun-kyu has also something to do with it. Vice president Kim's misuse of $800,000 (corporate fund) is not the real reason he was fired."
He went on, "Unification Minister Chung Dong-young must have heard this from Hyundai by now. That is why the government initially leaned hard on Hyundai Asan(for creating fuss over Kim Yun-kyu's dismissal: translator's note,) but is now backing away."
He continued, "Moreover, it is my understanding that American CIA already knows this, too. The submarine and the Aegis ship under construction by Hyundai Shipbuilding are for our navy to operate."
Unification Minister responded to this, saying, "(it is) a baseless allegation." When Assemblyman Lee pressed on, saying, "You can personally get confirmation from President Hyun. This outrageous fact....," he dismissed it again, saying, "This is no more than an unfounded rumor."
Depending on the veracity of his claim, this could touch off serious controversy.
If proven true, this could have grave impact on entire inter-Korean relationship, because N. Korea demanded military secrets which can shake the core of (S. Korean) national security, using N. Korean venture as 'a bait.' On the other hand, if proven false, Assemblyman Lee cannot escape the condemnation of practicing 'irresponsible bombshell announcement.'
/end my translation
Several weeks ago, Hyundai Asan fired its vice president Kim Yun-kyu, accusing him of using corporate funds for personal use, after an internal audit. Vice president Kim strongly protested and N. Korea come to Kim's rescue, vehemently insisting that there would be no more joint business venture with Hyundai unless Kim is reinstated to his former position. N. Korea went in great length to save Kim Yun-kyu. Hyundai Asan elaborated that it is not solely due to misuse of fund, but some unconscionable breach of trust, which is the real reason. However, they did not spell out what it is. For a while, it seemed that several years of Hyundai's N. Korean venture would be gone, because N. Korea made repeated overtures to other S. Korean corporations such as Lotte Travel and Korea Tourism Corporation to replace Hyundai. It did not work. Now N. Korea is slowly turning around and extending olive branch to Hyundai again.
Then comes this allegation of N. Korea demanding top secret design for S. Korea's high-tech navy ship. This kind of bombshell allegation by lawmakers are not always accurate. However, this seems to fit the context. At least, it is the nice candidate for explaining dubious maneuverings surrounding Kim Yun-kyu's sacking. It is possible that Kim Yun-kyu strongly pressed for accommodating N. Korean demand at all cost. He is said to be a shady operator, according to what I heard.
Ping!
Cat's out of the bag, Bump
Kim Jong-Il is shadier than he is! If this theory is correct, then Hyundai Asan President Hyun Jong-eun, for showing real manhood in standing up to a squeeze play put on by the North Koreans and their ally, his faithless VP, may be at personal risk.
The North Koreans have shown a distinct flair for assassination and mayhem as state tools in the past.
Yeah, she took real beating from many sides, government, their supporters, and N. Koreans. You may not rule out the possibility that she would be found dead, and it is ruled as a suicide just like her deceased husband. However, it would not be easy for N. Koreans to liquidate President Hyun after her husband's suspicious death, which received so much publicity and is a source for so many conspiracy theories.
I agree. There are traitors inside S. Korean government.
We are so stupid.
Which of the Chaebol is in the weakest position?
"Information to be immediately passed to their Chinese handlers. What the hell are we doing letting the Koreans build those ships anyway?"
Yeah, the free traders will probably act all surprised when China starts pumping out N-powered Aegis cruisers 10-20 years from now. And considering China's ever-expanding shipbuilding capabilities they'll probably put 5 to sea every year.
The people won't be able to pay the taxes to support the system that protects "our" interests abroad.
"The people won't be able to pay the taxes to support the system that protects "our" interests abroad."
Yep, we'll learn the hard way on what happens when we develop unnecessary dependencies upon other countries to maintain our economy/defense. All dependencies are vulnerabilities, and all vulnerabilities eventually get exploited by enemies.
I wasn't aware, either, that the North Koreans had already killed a president of the company -- that makes things considerably dicier than I'd imagined.
Thanks for the information.
Poor people, and poor peoples, don't have interests abroad -- self-solving problem, right?
Hyundai.
Why doesn't SK simply buy the AEGIS system OFF THE SHELF...? Or is the US busy subsidizing it's own competitor?
The one which is licensed to be produced by other countries is usually an older model without some crucial components which only U.S. can provide.
Still, even information on this stripped-down version could give adversaries some insights on how to counter it.
Hyundai Asan and Hyundai Shipbuilding are separate companies now. Hyundai Group is now divided into multiple independent corporations You cannot get information on Aegis ships from Hyundai Asan by simply making a phone call to Hyundai Shipbuilding and ask for it. Probably, N. Koreans failed to understand such workings of capitalist corporations. To them, since they all came out of old Hyundai Group, somehow such transaction could be still possible.
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