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	Encyclopedia: Hyundai Asan
		Hyundai Asan is an arm of the Hyundai Group and a major investor in North Korea.
		Hyundai Asan, a South Korean Chaebol in charge of joint ventures with North Korea, has faced accusations of being a vehicle for ilegally transferring US$100 million to North Korea from the government of former South Korean President Kim Dae-jung.
		Hyundai Asan is building an industrial park, cross-border roads and railway lines in North Korea.
	www.nationmaster.com /encyclopedia/Hyundai-Asan (358 words)

	Hyundai Asan - Wikipedia, the free encyclopedia
		The family-controlled Hyundai Group, which used to be South Korea's largest Chaebol, was split into three sub-groups after the Asian financial crisis.
		Chung Mong-hun was involved in a power struggle with his elder brother, Chung Mong-koo, who heads another part of the Hyundai Group, the automaker Hyundai Motor Company.
		He leaped from the twelfth storey of Hyundai's headquarters in the center of Seoul.
	en.wikipedia.org /wiki/Hyundai_Asan (393 words)

	Asia Times: Hyundai reiterates Mt Kumgang tours in jeopardy
		SEOUL - Hyundai Asan President Kim Yoon-kyu and other top executives were to travel to North Korea on Tuesday to reach a "conclusive" settlement on the Mount Kumgang tour with their northern counterparts, company officials announced.
		Hyundai Merchant Marine Company Co, another Hyundai subsidiary, has been under pressure from creditors to desist from ferrying passengers to the North because the route was not turning a profit.
		Hyundai officials have expressed concern that the inability of North Korea to accept a mutually satisfactory understanding in the last several months is dampening expectations of a breakthrough this time as well.
	www.atimes.com /koreas/CE23Dg01.html (647 words)

	S. Korea: Hyundai Asan Chairman Commits Suicide (update)
		Chung Mong-hun, the Hyundai Asan chairman who was implicated in the secret transfer of money to North Korean before the June 2000 inter-Korean summit, killed himself early Monday morning by jumping out of his company office on the 12th floor of Hyundai group's head office building in Gye-dong, downtown Seoul, police and company officials said.
		Hyundai Merchant Marine, the core unit under Mong-hun's ownership, posted W142.2 billion in net profit last year, but observers said the net profit figures were misleading because the company sold off its automobile transportation division for W1.8 trillion at the end of last year.
		Hyundai watchers said that the firm's president, Kim Yoon-kyu, would be handling the day-to-day management of Hyundai Asan in the absence of Mong-hun, but eventually the Chung family members, including Mong-koo, whose Hyundai Motor group is doing good business, would take up a leading role in maintaining the on-going North Korea projects.
	www.freerepublic.com /focus/f-news/957745/posts (2572 words)

	Asia Times: 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.
		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.
		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.
	www.atimes.com /koreas/CF19Dg01.html (285 words)

	PM - Hyundai Asan chairman, Chung Mong-Hun commits suicide
		Hyundai Asan is the Hyundai subsidiary that runs joint ventures with the isolated Stalinist state of North Korea.
		Mr Chung was the son of the Hyundai Group founder Chung Ju-Yung, and was Chairman of the Hyundai Asan Company, an unlisted company that spearheads South Korean business projects in North Korea.
		Hyundai has said the money was in payment for the company's monopoly rights to tourism and other projects in the North.
	www.abc.net.au /pm/content/2003/s917158.htm (588 words)

	YONHAP NEWS (Site not responding. Last check: 2007-10-09)
		Former Hyundai Asan Corp. CEO Kim Yoon-kyu was found to have stolen about 1.12 billion won in company funds related to its tourism business in the communist country, the group said in a statement.
		Hyundai said it had no idea whether Kim, who was fired on Aug. 19, had embezzled the money the government provided to help support its North Korean business.
		Hyundai chairwoman Hyun Jeong-eun took the helm at Hyundai Group in October 2003, two months after her husband Chung Mong-hun jumped to his death from his office in downtown Seoul amid prosecution investigations into the group's North Korean business.
	english.yna.co.kr /Engnews/20050930/650000000020050930154358E7.html (484 words)

	North Korea says reconsidering business with South (Site not responding. Last check: 2007-10-09)
		Earlier this month, the Hyundai Asan subsidiary that handles projects worth about $1 billion in the North severed its last tie with Kim Yoon-kyu, who had already been sacked as president of the firm in August for what the company said was graft.
		Hyundai Asan was seemingly surprised by the comments from an unnamed spokesman for the Asia-Pacific Peace Committee that governs North-South business ties.
		Hyundai Asan has said in a statement it suspected Kim Yoon-kyu, a trusted confidant of the North Korean leader, of siphoning off about 820 million won of company money for personal use.
	www.heraldnewsdaily.com /stories/news-0087878.html (569 words)

	Mountain resort highlights N.Korea ups and downs - Boston.com (Site not responding. Last check: 2007-10-09)
		Hyundai Asan is eager to attract foreign visitors and investors and has had initial talks with fund managers and some international hotel chains, including Hilton and Hyatt, but no deals have emerged yet, said Dan Byun, the firm's senior manager in charge of attracting outside capital.
		Late Hyundai founder Chung Ju-yung, a native of the Kumgang area, started the project as a labor of love but it has not made a profit despite $1 billion injected to build up a resort that promises "the sensation of a lifetime" and projects such as the Kaesong industrial park on the other coast.
		Hyundai Asan officials hope the combination of the train and road route plus two planned golf courses will help to entice more people to make the trip.
	www.boston.com /news/world/asia/articles/2005/10/03/mountain_resort_highlights_nkorea_ups_and_downs?page=1 (1007 words)

	Hyundai - Wikipedia, the free encyclopedia
		The Hyundai Group (meaning "modern" in Korean), founded by Chung Ju-yung in 1947 as a construction company, was once South Korea's biggest conglomerate (chaebol).
		Before restructuring began in 2000, Hyundai's major areas of activity included shipbuilding, car manufacture, construction, retailing, finance, and electronics.
		After its founder died in 2001, the component companies of Hyundai were split off into separate companies.
	en.wikipedia.org /wiki/Hyundai (235 words)

	YONHAP NEWS (Site not responding. Last check: 2007-10-09)
		In late August, North Korea abruptly forced Hyundai Asan Corp., a unit of the group, to halve its daily South Korean tourist quota at Mount Geumgang, saying its decision was related to the recent dismissal of Kim Yoon-kyu as Hyundai Asan president on embezzlement charges.
		On Aug. 19, Hyundai Asan's board sacked the 61-year-old Kim for misappropriating billions of won in company funds in connection with the tour program, which was launched in 1998.
		Chung Mong-hun, the fifth son of the Hyundai founder and formerly chairman of Hyundai Asan, was Hyun's husband until his suicide in the summer of 2003.
	www.yonhapnews.net /Engnews/20050913/610000000020050913141944E6.html (631 words)

	Welcome To Korea Now !!!-Sports (Site not responding. Last check: 2007-10-09)
		Hyundai Engineering and Construction said the Pyongyang Asan Gymnasium, a project to commemorate the conglomerate's late founder, Chung Ju-yung, is expected to be completed around July next year.
		The Hyundai Group affiliate, which began the construction of the gym in July last year, was to complete the work by the end of this year, but the plan was delayed due to a lack of progress in the first half of this year.
		The Hyundai side had invested 880 million won ($676,923) in the project as of the end of June, and it plans to put up a further 3.33 billion won ($2.56 million) to complete the project.
	kn.koreaherald.co.kr /SITE/data/html_dir/2001/09/25/200109250037.asp (272 words)

	Asia Times: Hyundai still has a mountain to climb
		A Hyundai Asan delegation, led by the company's president Kim Yoon-kyu, returned home on Monday from a trip to North Korea that produced no breakthrough in its efforts to put the project back on track.
		Hyundai Asan had hoped its brokering of deals with North Korea would produce some winners, especially the shuttling of tourists on package tours from South Korea's east coast to the scenic coastal mountain chain 30 kilometers north of the Demilitarized Zone.
		Hyundai called on the North to grant an extension on the payment of overdue fees or agree to peg the fees as a proportion of the number of Mount Kumgang travellers.
	www.atimes.com /koreas/CE29Dg03.html (417 words)

	YONHAP NEWS (Site not responding. Last check: 2007-10-09)
		The 33-year-old driver, who works for a Hyundai Asan contractor, drove his car into the three North Koreans at a checkpoint close to the Mount Geumgang resort Tuesday night, the South Korean company said.
		Hyundai Asan has been running a sightseeing tour to the North Korean resort since 1998 when it was open to outside visitors.
		Hyundai Asan said it has dispatched high-ranking officials to the North to express condolences and pick up the pieces.
	www.yonhapnews.net /Engnews/20051229/630000000020051229165445E1.html (324 words)

	Koreas-Business-Blues, Bgt
		When Hyundai Asan, the tourism subsidiary of South Korea's Hyundai Group, fired one of its top executives, it touched off a cross-border fight that involved cabinet ministers in the North and South and complaints of retaliation.
		Hyundai Asan's North Korean ventures include a high-profile tour program to Diamond Mountain and construction of an industrial complex in the border city of Kaesong, symbols of blossoming economic ties between the two Cold War rivals.
		Kim Yoon-kyu, the Hyundai Asan executive, was convicted in 2003 after helping Hyundai Group give North Korea $500 million days before a 2000 summit between former President Kim Dae-jung and North Korean leader Kim Jong Il.
	www.cbc.ca /cp/business/050925/b092534.html (978 words)

	BBC NEWS \| World \| Asia-Pacific \| Hyundai chief found dead
		Chung Mong-hun - chairman of the Hyundai Asan group - was found dead on Monday morning after falling from the 12th floor of his company headquarters in central Seoul.
		Hyundai Asan was the subsidiary branch responsible for investments and trade with North Korea.
		Hyundai said that the $400m it gave to North Korea was in payment for the company's monopoly rights to tourism and other projects in the impoverished communist state.
	news.bbc.co.uk /1/hi/world/asia-pacific/3121609.stm (641 words)

	Kim Hyo-jin, The Gaeseong Project: The Dream of 'Dirt-Cheap' Labor
		After Hyundai Asan Corp. and the Korea Federation of Small and Medium Business started taking applications from small and medium companies in 2000, 1,300 applications have poured in—400 of which were filed after the groundbreaking ceremony for the complex in June.
		In August 2000, Hyundai Asan, a unit of the Hyundai Group in charge of its projects in the North, reached an agreement with Pyeongyang to build the industrial park in Gaeseong.
		It will cost Hyundai Asan and the Korea Land Corp., a South Korean government corporation, about 90,000 to 120,000 won per square meter (10 square feet) of land to build roads, utilities, and sewage systems, and initially the companies were to absorb all the costs.
	www.hartford-hwp.com /archives/55a/143.html (2008 words)

	Pilot Overland Tour to North Korea Starts
		Hyundai earlier said the North has given the go ahead for South Korean TV broadcasters to film the group entering the border area.
		Hyundai said the North will be ready to welcome the South Korean group with a brass band at 1:00 p.m.
		In a last-ditch effort to keep the project afloat, Hyundai Asan and North Korea agreed in 2001 to open an overland route across the border in a bid to increase the number of tourists to the mountain by cutting costs.
	www.globalsecurity.org /wmd/library/news/rok/2003/rok-030214-korea-net04.htm (507 words)

	DPRK sports and tourism
		Hyundai Asan Corp., the leisure arm of the Hyundai Group, is confronted with a new obstacle to its Mt. Kumgang tour project over the amount of compensation for the death of a North Korean soldier and injuries to two other soldiers in a car accident in the mountain resort in the North.
		Hyundai Asan and the KNTO had originally planned to launch the Paekdu tourism project this year, but the plan was delayed by a recent dispute between Hyundai and Pyongyang over the dismissal of Kim Yoon-kyu, who was the Hyundai Asan chief executive officer.
		Payments by Hyundai Asan Corp., the group subsidiary that is the dominant operator of tour programs to the North, include $260 million in 1999 and $136 million in 2000, according to the data released by the Unification Ministry for the annual parliamentary audit.
	www.vuw.ac.nz /~caplabtb/dprk/NK_tour.htm (17415 words)

	Upstart Hyundai guns for Big Three - 5/15/05 (Site not responding. Last check: 2007-10-09)
		Hyundai owner Mike Ruggero, a Detroit restaurant supervisor, was first attracted to the brand by its long warranty but found the design and prices hard to beat.
		To counter the threat from Hyundai in small-car segments, Japanese and U.S. automakers are bringing in models built in Asia, such as the Chevrolet Aveo, produced by GM Daewoo Auto & Technology Co.
		He is the eldest surviving son of Hyundai Group founder Chung Ju Yung, who appointed him to run the carmaker in 1998 when he broke up the auto, shipbuilding and construction conglomerate, under pressure from the Korean government.
	www.detnews.com /2005/specialreport/0505/15/A01-182019.htm (2124 words)

	Hyundai Group Demotes Head of Subsidiary - Forbes.com (Site not responding. Last check: 2007-10-09)
		Hyundai Asan, a subsidiary in charge of Hyundai Group's business in North Korea, demoted one of its two chief executive officers Friday amid reports he allegedly embezzled corporate funds.
		Hyundai Asan's board removed Kim Yoon-kyu from his position "to establish consistent company policies and prevent confusion in businesses," Hyundai Group said in a release.
		Hyundai Asan's Kim, who was sentenced to a one-year suspended jail term, received a special government amnesty in 2004.
	www.forbes.com /home/feeds/ap/2005/08/19/ap2185953.html (603 words)

	KoreaTimes : Hyundai Claims 7 Projects in NK (Site not responding. Last check: 2007-10-09)
		The Hyundai Asan claimed that it secured seven exclusive projects from North Korea and paid the due amount of money to North Korea.
		Hyundai Asan, operator of the inter-Korean business projects, said that the seven projects included the reconnection of the cross-border railway, operation of telecom business, electric utility utilization, airport construction in Tongchon, utilization of water in Mt. Kumgang reservoir, construction of Imjin River multipurpose dam and integrated tourist site development.
		Hyundai Asan added that the company has verbally agreed with the North on the guarantee of its exclusive development rights to the seven business areas in May 2000.
	times.hankooki.com /lpage/200302/kt2003020917585310440.htm (610 words)

	Cattle to Accompany Delegation to P'yang
		According to the North Korean tour organizer Hyundai Asan on Sunday, it has delivered 100 cattle to the South Korean National Red Cross to be donated to the North.
		This will be Hyundai fourth donation of cattle to the North since June 1998, when late Hyundai founder Chung Ju-yung visited the North to deliver a herd of 501 cattle.
		Hyundai Asan and its sister companies began construction of the gymnasium in July 2000 and completed it last May. But due to unfavorable relations between Pyongyang and Washington, the opening ceremony was put off.
	www.globalsecurity.org /wmd/library/news/rok/2003/rok-031006-korea-net01.htm (410 words)

	YONHAP NEWS (Site not responding. Last check: 2007-10-09)
		North Korea's Asia-Pacific Peace Committee told Hyundai via fax on Oct. 25 that it is willing to discuss the tourism business with the South Korean company, including the North's scenic resort of Mt. Kumgang.
		Pyongyang even threatened last week to scrap its exclusive business deals with Hyundai if the business group does not restore the honor of the former Hyundai Asan executive, who had been working as the group's point man for business operations in the North.
		Hyundai Asan is a business arm of Hyundai Group that deals with its projects in North Korea.
	english.yna.co.kr /Engnews/20051027/630000000020051027112356E8.html (1209 words)

	Business Report - Hyundai Asan president toppled by corruption claims (Site not responding. Last check: 2007-10-09)
		Hyundai Asan's board of directors sacked Kim Yoon-Kyu as its president and chief executive officer after he allegedly embezzled an unspecified amount of company funds concerned with tourism projects in North Korea, it said.
		Hyundai Asan, a division of the Hyundai Group, has had a double presidency.
		Hyundai Asan, an affiliate of Hyundai Group, has been operating tours to the isolated communist state since 1998.
	www.busrep.co.za /index.php?fArticleId=2843805 (758 words)

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