Hyundai Asan considers cutting jobs, wages in North Korean mountain resort(feeling the heat?)

Yonhap News ^ | 11/19/06

[TigerLikesRooster]

Hyundai Asan considers cutting jobs, wages in North Korean mountain resort

MOUNT GEUMGANG, North Korea, Nov. 19 (Yonhap) -- Hyundai Asan Corp., a South Korean company spearheading inter-Korean economic projects, said Sunday it is considering slashing jobs and wages at a scenic North Korean mountain resort that has been opened to South Koreans.

The restructuring plan underscores how Hyundai Asan is struggling with a falling number of tourists to Mount Geumgang on North Korea's east coast amid growing security concerns over the communist neighbor's nuclear test in early October.

[TigerLikesRooster]

The operation has been losing money for some time. Government employees and students(from elementary school up to college) are encouraged to go there. In many cases, government subsidized the travel expense. As such, it is defactor cash payment through tourists as intermediaries. The tourists are paid to go there.

Either they are running out of people to send there or U.S. leaned on S. Korea to cease such a practice. It would be more of the latter than the former, in my opinion. Without any pressure, they will manage to find somebody to send there as tourists, delivering cash into the hands of N. Koreans in the process.

[TigerLikesRooster]

Ping!

[100-Fold_Return]

As CNN and their lapdogs continue to--quietly--demand US troops invade Iran, N. Korea, and Venezula, while backing out of Iraq...

Who are the men behind the CNN curtain??

[libertylover]

I don't watch CNN so I don't know. "CNN is demanding US troops to invade Iran, N. Korea, and Venezuela"? Do tell.

[TigerLikesRooster]

Correction:

As such, it is defactor defacto cash payment through tourists as intermediaries.

[JustaDumbBlonde]

Feeling the hear???

[TigerLikesRooster]

Re #6

Really sorry. Typo. Must be my keyboard.:-( I had better get the best keyboard in the world.

[texas booster]

A quick google turns up:

The resort is very picturesque, with sharp mountain ranges around the resort.

The Geumgang Mountain is where re-unification visits occur between the two countries.

The resort (as we expect) is fully funded by SK, and is a source of hard currency for NK.

NK completed a large dam in the mountains near the resort, raising fears of "water terrorism" is the dam failed (intentionally or by accident). Flooding from a collapse would potentially flood SK all the way to Seoul. A major, unannounced water release in Sept 2005 did in fact flood many parts of SK along the Han River.

I have no idea how to book a tour to the resort or how much it costs. Could not find an English site for Hyundai - Asan. I am sure it is out there, just didn't find it. How much would a tour cost, and would American spies like me be allowed to visit?

Very interesting place.

[TigerLikesRooster]

Re #8

They have a web-site: http://www.mtkumgang.com/

Unfortunately, no English version.

However, you can contact the following woman:
Lee So-yoon, acuasy@hdasan.com 02-3669-3724, 3000(S. Korean telephone number)

[texas booster]

I recall that NK had to "approve" visitors. Do they even allow non-SK to visit?

[Judith Anne]

My only contribution is tangential, here. I note that Hyundai has an auto manufacturing plant in Alabama, iirc.

[Judith Anne]

And PS, I've driven Hyundais since 1988. Outstanding cars.

[TigerLikesRooster]

Re #10

Non-Korean visitors are indeed allowed into N. Korea through other N. Korean tourism outlets. I am not sure what policy this particular tourism venture has.