ID :
206559
Mon, 09/12/2011 - 05:27
Auther :
Shortlink :
https://oananews.org//node/206559
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Seoul to ask foreign countries this week not to invest in Mt. Kumgang
SEOUL (Yonhap) - South Korea will formally ask foreign countries this week not to invest or engage in tourism activities at North Korea's Mount Kumgang resort, officials said Monday.
Earlier, Seoul said it will use all diplomatic channels to prevent foreign companies from controlling operations at the resort, which was built and funded by South Korean companies and governmental agencies.
The planned measures mark the first time that the South has outlined diplomatic and legal measures to prevent the North from unilaterally and unlawfully taking over the facilities built at the resort.
"This week, the government will formally ask foreign countries for cooperation," an official said.
South Korea's Hyundai Asan, the main corporate investor in the resort project, had been guaranteed exclusive operating rights by Pyongyang. The state-run Korea Tourism Organization also invested in the resort.
Hyundai Asan reportedly invested US$196 million in building hotels, a restaurant and other facilities at the resort since 1998 when the North opened it for South Korean tourists.
Seoul suspended the joint tour program following the 2008 shooting death of a tourist by a North Korean soldier at the resort. It demanded Pyongyang make a formal apology for the incident and requested improved safety measures for tourists to prevent a repeat of the tragedy.
The North, however, rejected such demands and recently expelled South Korean workers from the resort. It vowed to legally dispose of all assets after it unsuccessfully tried to pressure Seoul to resume the tour program, which was once seen as a key symbol of reconciliation on the divided Korean Peninsula.
The official said Seoul is considering taking further action in response to any moves that may be taken by North Korea on the Mount Kumgang resort issue.
Government sources said that the latest move may pave the way for Hyundai Asan to take the issue to an international mediator or court so the company can show the damage inflicted by the North's actions.
The latest measure also comes after the head of a North Korean company responsible for attracting foreign capital proposed holding a meeting with Hyundai Asan to resolve the row over the assets at the scenic mountain resort.
Park Chol-su, head of Daepung International Investment Group, said last week in Beijing that he wants to meet with Hyundai Asan representatives to discuss outstanding issues.
Earlier, Seoul said it will use all diplomatic channels to prevent foreign companies from controlling operations at the resort, which was built and funded by South Korean companies and governmental agencies.
The planned measures mark the first time that the South has outlined diplomatic and legal measures to prevent the North from unilaterally and unlawfully taking over the facilities built at the resort.
"This week, the government will formally ask foreign countries for cooperation," an official said.
South Korea's Hyundai Asan, the main corporate investor in the resort project, had been guaranteed exclusive operating rights by Pyongyang. The state-run Korea Tourism Organization also invested in the resort.
Hyundai Asan reportedly invested US$196 million in building hotels, a restaurant and other facilities at the resort since 1998 when the North opened it for South Korean tourists.
Seoul suspended the joint tour program following the 2008 shooting death of a tourist by a North Korean soldier at the resort. It demanded Pyongyang make a formal apology for the incident and requested improved safety measures for tourists to prevent a repeat of the tragedy.
The North, however, rejected such demands and recently expelled South Korean workers from the resort. It vowed to legally dispose of all assets after it unsuccessfully tried to pressure Seoul to resume the tour program, which was once seen as a key symbol of reconciliation on the divided Korean Peninsula.
The official said Seoul is considering taking further action in response to any moves that may be taken by North Korea on the Mount Kumgang resort issue.
Government sources said that the latest move may pave the way for Hyundai Asan to take the issue to an international mediator or court so the company can show the damage inflicted by the North's actions.
The latest measure also comes after the head of a North Korean company responsible for attracting foreign capital proposed holding a meeting with Hyundai Asan to resolve the row over the assets at the scenic mountain resort.
Park Chol-su, head of Daepung International Investment Group, said last week in Beijing that he wants to meet with Hyundai Asan representatives to discuss outstanding issues.
