S. Korean investors renew calls for compensation over stalled tour program in N. Korea

Members of the Mt. Kumgang Enterprise Association and the Mt. Kumgang Investment Company Association hold a press conference in front of the government complex in Seoul, Nov. 17, calling for a special bill to compensate losses from the long-suspended tour program to North Korea's Mount Kumgang. Yonhap

More than a dozen South Korean investors pressed the government again Friday to provide compensation for their losses stemming from a long-stalled tour program in North Korea.

The latest call came a day before the 25th anniversary of the launch of the tour program at Mount Kumgang, a scenic mountain resort on North Korea's east coast.

The investors called for a special bill to recoup their losses, and write off relevant debt and interest, saying in a news conference that the government should be accountable for what they claimed to be insufficient preparation to put in place a legal basis for compensation.

The unification ministry, which handles inter-Korean affairs, said the matter should be discussed in the National Assembly, in response to a question on the requests for compensation.

The cross-border tour program was once hailed as a key symbol of reconciliation between South and North Korea. It attracted more than 1.95 million visitors, providing much-needed hard currency to North Korea.

In 2008, South Korea suspended tours after a South Korean female tourist was shot dead by a North Korean guard near the resort. Pyongyang claimed the tourist had ventured into an off-limits military area.

In 2016, North Korea seized all assets of the South Korean businesses and completely annulled business agreements.

The mountain resort also served as a venue for temporary reunions of families in South and North Korea separated following the 1950-53 Korean War, which ended in a cease-fire and not a peace treaty. (Yonhap)