Korean Job Discussion Forums

[ThingsComeAround]

I heard this on Saturday night,
my gf and I were watching the news and she told me that the North sold the resort complex KumGangSan to a Chinese company, effectively giving the South a nice flaming bag of poo right on the DMZ. What's more, this morning on the news I saw that KJI went to China on his private train. Wonder if he is trying to get blessings from China should anything escalate due to the Cheonan sinking...

Has anyone seen / can confirm this news from an English media source? I couldn't find anything

[Moldy Rutabaga]

I have not heard this news, only that NK was seizing the assets. It would not look good for a Chinese company to take those assets if it had any dealings with South Korea, but I'm not sure the Chinese would care very much. Yet I think it's more likely NK will try to run the complex themselves and botch it up and then quietly shutter it or sell off any tangible goods.

But that doesn't really answer the OP's question-- I haven't heard anything about a closed sale.

[On the other hand]

I did a google on "kumgangsan sold to chinese company", and this thread was the top item on the list, with the ones below having nothing to do with that idea.

[ThingsComeAround]

Perhaps the news isn't important enough to be translated into English yet.
As I said, my girlfriend told me (as we watched Korean news) that NK has sold it to a Chinese company- and I commented to her that NK has always and for a long time will be protected by China. Then yesterday morning I watched the news and saw KJI and his personal train going over the border to visit Chinese officials. Korean English news only reports 2MB going to China, so perhaps reporting about KJI is a conflict of interest

[Forever]

Almost 2 years ago, due to the shooting in 2008, South Korea temporarily suspended all trips to Kŭmgangsan.

Hence NK lost all the profit they were making and have made no profit from it for the last 22 months.

In March 2010 (LAST month) the DPRK government warned of "extraordinary measures" if the tourism ban was not lifted.

Nothing was done, so -

On April 23, 2010 the North Korean government seized 5 properties owned by South Korea at the resort, saying that it was done "in compensation for the damage the North side suffered due to the suspension of the tour for a long period".

In seizing the properties, North Korea also made reference to the Baengnyeong incident with North Korea showing displeasure with South Korea blaming North Korea for the sinking of the ship.

The North is just acting like a foolish child again.

http://news.bbc.co.uk/2/hi/asia-pacific/8639065.stm

http://news.bbc.co.uk/2/hi/asia-pacific/8586440.stm

The fact that Hyundai (South Korea) built the resort in 1989 - means that the North just stole from the South again and Hyundai must be angry ??

http://www.nytimes.com/1989/02/02/world/the-two-koreas-agree-to-develop-resort-in-north.html?sec=&spon=&pagewanted=all

[Forever]

After seizing five South Korean government-run facilities at the resort last week, the North said it would freeze civilian tourism assets between Tuesday and Friday this week.

http://english.yonhapnews.co.kr/northkorea/2010/04/27/71/0401000000AEN20100427006700315F.HTML

[ThingsComeAround]

I wonder how much longer it will take before the English media learns about KumGangSan

http://news.bbc.co.uk/2/hi/asia-pacific/8657688.stm

[Caffeinated]

Hmm so are tours in NK from China still doable? What would happen with SK immigration if you went to NK from China? Or doesn7t NK stamp your passport at all?

[cdninkorea]

[On the other hand]

[darkjedidave]

[ThingsComeAround]

It is likely:

Although we aren't talking about KGS, this is about Kaesong:

http://joongangdaily.joins.com/article/view.asp?aid=2920337