S. Korea: More Sunshine Needed

Washington Post ^ | August 5, 2003

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More Sunshine Needed

Tuesday, August 5, 2003; Page A14

YESTERDAY Chung Mong Hun, a top executive of the South Korean Hyundai conglomerate, threw himself from the 12th floor of his company's headquarters. He left behind several notes, including one requesting that his ashes be scattered over Diamond Mountain, a loss-making North Korean holiday resort set up by Hyundai. It was a fitting request. For the past several years, Mr. Chung and his father had spent hundreds of millions of dollars in North Korea, some on ludicrous "investments" such as Diamond Mountain, some directly on payments to the North Korean government. At the time of his death, in fact, Mr. Chung was under investigation for allegedly orchestrating the payment of what may have been as much as $1 billion to the North Korean government shortly before the historic summit between the leaders of North and South Korea in 2000. A large chunk of this money came directly from the coffers of the South Korean government.

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