Money enticed North Korea to summit: Hyundai<\/p>\n
Agence France-Presse, Seoul<\/p>\n
South Korea's Hyundai business group admitted Sunday that its
\nsecret money transfer to North Korea served as a sweetener for
\nbringing the Stalinist country to an inter-Korean summit three
\nyears ago.<\/p>\n
\"Our remittances contributed partly to bringing North Korea to
\nthe summit,\" Chung Mong-Hun, who heads Hyundai's business deal
\nwith North Korea, told reporters.<\/p>\n
He said Hyundai had agreed to send US$500 million in secret
\npayments to Pyongyang for securing exclusive business rights in
\nthe Stalinist country.<\/p>\n
Chung's revelations followed an apology Friday by South Korean
\nPresident Kim Dae-Jung for the transfer of $200 million by
\nHyundai just before the summit in June 2000.<\/p>\n
The $200 million was part of $500 million that Hyundai had
\nagreed to pay to the North in return for rights to a wide range
\nof projects.<\/p>\n
The president said his government enlisted Hyundai's
\nassistance in arranging the summit, which helped him receive a
\nNobel Peace Prize.<\/p>\n
But he denied allegations that the cash transfer was used to
\nentice North Korean leader Kim Jong-Il to hold the summit.<\/p>\n
Chung said Hyundai obtained 30-year rights to engage in a wide
\nrange of projects including railways, electricity, communication,
\ntourism and the construction of an industrial zones.<\/p>\n
\"Because of the unique relationship between South and North
\nKorea, cooperation and understanding from our government were
\ninevitable,\" Chung said.<\/p>\n
His remarks followed a landmark tour to the North's Kumgang
\nresort for the first time through the demilitarized zone which
\nhas divided the Korean peninsula since the 1950-1953 Korean War.<\/p>\n
Chung apologized for the payoff scandal but said it should not
\nhamper Hyundai's projects in North Korea.<\/p>\n
North Korea has threatened to scrap inter-Korean
\nreconciliation projects if South Korea delves into the deal with
\nHyundai.<\/p>\n
The opposition Grand National Party (GNP), which claims
\nHyundai acted as a conduit for the bribe, has called for a
\nspecial prosecutor's independent investigation.<\/p>\n
Kim Dae-Jung will be succeeded on Feb. 25 by president-elect
\nRoh Moo-Hyun, who has vowed to continue with his predecessor's
\nNorth Korean policy.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/money-enticed-north-korea-to-summit-hyundai-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}