By Ryu Jin
Staff Reporter
Hyundai Asan CEO Yoon Man-joon Thursday hailed the agreements reached in the 2007 South-North Korean Summit, raising hopes for what he called ``significant results'' and the ``first step toward an inter-Korean economic community.''
In an interview with The Korea Times, he said that Hyundai Group Chairwoman Hyun Jeong-eun would make a separate trip to Pyongyang later this month for consultations over ongoing and new businesses.
President Roh Moo-hyun and North Korean leader Kim Jong-il issued an eight-point joint declaration, which contained an agreement for a new tour program to Mt. Baekdu beside other political and economic agreements, after a three-day summit in Pyongyang.
``I think that expectations for expanded inter-Korean economic cooperation have been heightened further through the summit,'' Yoon said before heading for Gaeseong, a North Korean border city and site of an inter-Korean industrial park.
Accompanied by Hyun, the Hyundai Group chairwoman, and other high-profile South Korean business leaders, Roh dropped in at the Gaeseong Industrial Complex on his way back to Seoul late in the afternoon.
Hyundai Asan, a Hyundai Group affiliate, has so far taken the van in inter-Korean reconciliation, as it has operated a variety of cross-border business projects including the Gaeseong Industrial Complex and Mt. Geumgang tour programs.
Yoon expected that the company's businesses in Gaeseong and Mt. Geumgang would continue on a more stable basis thanks to the latest agreements, which are anticipated to get rid of major hindrances such as the lack of infrastructure.
``I hope that we will see a smooth consultation process with the North Koreans,'' he said.
Hyundai Asan received business rights from North Korea with regard to social overhead capital (SOC) programs ranging from electricity supply; railroad, airport and dam construction; communications installation; and tour programs.
However, the company has sometimes faced difficulties due to the political volatility on the Korean Peninsula and, more fundamentally, the lack of infrastructure in the North.
Yoon also paid special attention to the concrete agreement to open a direct air route between Seoul and Mt. Baekdu, which lies on the border between North Korea and China. Hyundai Asan has long pursued a tour program to the auspicious mountain.
``I hope that the agreements at the summit will be put into practice in a composed manner in the future,'' he said. ``Hyundai Asan will continue to play a leading role in achieving successful results and will make efforts to have our businesses flourish in the future.''