Comments on: North Korea Threatens to Seize South Korean Real Estate Located at the Kumgang Resort

By: archieb

archieb — Sun, 21 Mar 2010 02:16:01 +0000

Which South Korean company owns the facilities on Mt. Kumgang and the local properties?

By: gerry

gerry — Sat, 20 Mar 2010 20:17:51 +0000

Its not only "not feeling sorry for South Korean businessmen knowing that getting cheated was the likely outcome" but that the South Korean businessmen were cheating the North Korean workers by getting cheap labo, when they knew most of the payroll was going to Kim Jong Il, and very little to the workers. They deserved what they got. Slimy bastards.

By: Teadrinker

Teadrinker — Sat, 20 Mar 2010 20:07:08 +0000

They act as if it isn't a form of financial aid, but it is. I've read the South Korean government basically covers the losses of local businesses that invest in North Korea, and they all lose big.

By: Teadrinker

Teadrinker — Sat, 20 Mar 2010 20:02:11 +0000

"I just don’t feel sorry for any South Korean businessman that did business with North Korea knowing that getting cheated was the likely out come"…

Actually, it's the only outcome. How many South Korean companies have turned a profit in North Korea? 1. Yes, it's not a typo. One.

http://www.nkeconwatch.com/2009/07/15/pyonghwa-mo…

…but it's not enough to cover their losses for the previous 7 years nor the cost of setting up the company (I've heard it was at least 45 million dollars).

By: archieb

archieb — Sat, 20 Mar 2010 19:26:10 +0000

This action would hurt the North far more than the South. There are plenty of other places in Korea for Koreans to visit on vacation.

By: gerry

gerry — Sat, 20 Mar 2010 18:54:08 +0000

North Korea, does not understand 'agreements', 'treaties', or any other rules of civilization. If South Korean businessmen get burned in the deal, good. They should have known better.

By the way, does the Kaesong complex still exist? Bet thats next on the list of NK harri karri.