Hyundai's efforts boost Korean ties

Hyundai's efforts boost Korean ties

PANMUNJOM (AFP): The head of South Korea's Hyundai business group led on Tuesday a fresh herd of cattle to the hunger- stricken North, brightening prospects for inter-Korean ties amid an easing of tension.

Chung Ju-yung headed a procession composed of 50 brand-new Hyundai trucks marked with the Red Cross emblem and loaded with 501 cattle, which slowly rolled across the military demarcation line at this border truce village.

"I am delighted to visit North Korea again via Panmunjom at a time when we are expecting to tour Mount Kumkang quite soon," Chung told journalists.

"I hope to discuss various economic cooperation projects, including the Mount Kumkang project, and to help promote inter- Korean economic exchange and cooperation," he said.

Chung said he also hoped to meet with North Korea's supreme leader, Kim Jong-il, during the four-day trip.

"I heard crude oil will be produced off the North Korean coast. I hope the two sides jointly develop this oil field and open a new era of prosperity and abundance," he said.

Leading the convoy were 20 Hyundai passenger cars including five sedans, one of which is intended for use by Kim Jong-il and is specially equipped to suit his tastes, boasting a built-in video player. The cars were being exported to the North on a deferred payment basis.

In a historic gesture dubbed "cattle diplomacy," Chung took an initial herd of 500 cattle to his birthplace of the North in June with the blessing of the reform-minded President Kim Dae-jung's government.