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Gov`t Allows Hyundai Asan to Renovate Facilities in Mt. Keumgang Area

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2002-05-20
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Press Releases

The government has approved revision of the "Mt. Keumgang tourism project" agreement which was made with Hyundai Asan corporation. Hyundai sought permission to refurbish its lodging facilities and set up a bungee jumping equipment in North Korea's Mt. Keumgang area to attract more tourists.

The approval was made on May 7 on the condition that the repaired facilities and the newly created entertainment equipment meet current requirements in terms of fire prevention, safety and convenience for tourists.

Hyundai Asan is to invest $1.16 million to refurbish the accommodations and build the bungee jumping facility. The approval brings to $198.2 million the amount of funds the government has allowed Hyundai Asan to invest in the Mt. Keumgang area

 

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