Hyundai Owner To Visit N. Korea
Jun. 12, 1998
SEOUL, South Korea (AP) _ It's one way to be bullish about business.
South Korea's richest man plans to visit North Korea next week, bringing 500 head of cattle with him in a bid to crack open markets in the isolated, communist nation.
Chung Ju-yung, owner of the giant Hyundai group, will give the cattle to North Korea, no charge. In return, Chung will get to spend eight days looking into business opportunities in the North.
The South Korean government said Friday that both it and the communist government of North Korea have approved Chung's visit, beginning Thursday.
He gave the North 10,000 tons of corn in May and is committed to ship an additional 500 cows and 40,000 tons of corn later this year.
North and South Korea never signed a peace treaty ending their war, and contacts _ business and otherwise _ remain rare.