June 19, 2001	atimes.com

The Koreas Hyundai affiliates in Mount Kumgang talks SEOUL - Hyundai Asan Co is in talks with Hyundai Merchant Marine Co to charter a high-speed ferry and buy a floating hotel, in a bid to further its tourism project at North Korea's Mount Kumgang on its own, officials at both companies said on Monday. This follows the shipping company's recent decision to back out of its involvement in the financially troubled project. Hyundai Marine has been responsible for shuttling travellers between ports in the South and North. Hyundai Asan plans to sign a contract with Hyundai Marine to re-charter the "Sulbongho", and acquire the Haekumgang Hotel, a maritime hotel ship anchored off the North Korean port of Changjon. "If both sides fail to agree on a price for the hotel, we could hold negotiations with other companies to build a similar hotel," a Hyundai Asan official said. Hyundai Merchant Marine has used the high-speed boat and three cruise ships - the Kumgangho, the Bongnaeho and the Poongakho - for the project. An official at Hyundai Marine confirmed the negotiations with Hyundai Asan, adding his company is also seeking contracts with foreign companies to re-charter the three cruise ships. Mount Kumkang travellers coming by ocean liner sleep on the cruise ships and those coming via high-speed ship stay either on the vessel or the hotel. Starting next month, the three cruise ships will no longer be part of the project, with the Sulbongho running on a shuttle basis. According to Hyundai Asan, it plans to use the Haekumgang Hotel if the Sulbongho cannot accommodate all the tourists brought up on a particular day. (Asia Pulse)

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