S. Korean to Help Resort in North
A South Korean business tycoon has agreed to help North Korea develop a mountain area in the north into an international tourist resort, North Korea’s official media reported Wednesday.
The visit to North Korea by Chung Ju Young, 74, founder and honorary chairman of the giant Hyundai Group, was the first known trip to the north by a South Korean businessman since the peninsula was divided after World War II.
The north’s Korean Central News Agency reported that Chung had reached agreement in principle on joint development of the Mt. Kumgang area. The agency gave few details on the agreement.
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