Hyundai Chief Returns with Five Agreements

Hyundai Group and a nominally private North Korean organization, Chosun Asia Pacific Peace Committee, have reached agreement on five cooperative projects, including family reunions at Mt. Geumgang over the October 3 Korean Thanksgiving holiday, Chuseok, according to a report released on the 17th by North Korea’s Chosun Central News Agency (KCNA).

After the much-anticipated meeting between Hyun Jung Eun, the chairwoman of Hyundai Group, and Kim Jong Il on the 16th, an agreement outlining the five projects was released.

“This year, on the traditional holiday of our nation, Chuseok, we have agreed to hold a reunion for separated families from North and South at Mt. Geumgang,” it said. No further details were included.

The agreement also covered Mt. Geumgang tours: “We have agreed to resume the suspended Mt. Geumgang tours as soon as possible, and launch tours of Biro Peak, the highest point on Mt. Geumgang. Under National Defense Chairman Kim Jong Il’s special management, security and convenience will be completely guaranteed.”

Notably, the document announced, “According to the spirit of the October 4 Inter-Korean Summit Agreement, overland passage of South Koreans through the Military Demarcation Line (MDL) and sojourn in North Korean territory will be restored as was,” so it is expected that passage into the Kaesong Industrial Complex, which ceased as a result of North Korean action in December of last year, will be resumed.

The agreement stated, “Following the normalization of overland passage through the MDL, Kaesong tours will resume and business in the Kaesong Complex will be revitalized.”

The KCNA finally reported, “Hyundai Group agreed to start Mt. Baekdu tours as soon as the infrastructure for such tours is in place.”

However, it should be noted that none of the agreements can be acted upon without the permission of the South Korean government. An official in the administration said, “These businesses need the mutual agreement of both authorities,” but pointed out, “The body which signed the agreement on the behalf of North Korea was the Chosun Asia Pacific Peace Committee, allegedly a non-governmental organization, and Hyundai is also a private company.”

The South Korean government’s initial position on the agreement is to cautiously welcome it, while waiting to see what the returning Hyundai chairwoman has to say.