North Korea Opens Two New Scenic Spots to South Korean Tourists

Strategic Insights -

In a bid to earn desperately needed foreign currency, North Korea has agreed to open two new scenic spots to South Korean tourists starting in August. Hyundai Group, a South Korean conglomerate, will launch the tours, allowing South Koreans to visit Mount Paekdu on the border with China and Kaesong, an ancient city on the border with South Korea. The move comes as North Korea seeks to ease international tension over its nuclear program and alleviate its economic woes. A long-term tourism deal with Hyundai could generate up to $500 million in revenue for North Korea.

Key Takeaways:

  • North Korea has agreed to open two new scenic spots to South Korean tourists, Mount Paekdu and Kaesong, starting in August.
  • Hyundai Group will launch the tours, which will generate up to $500 million in revenue for North Korea.
  • The move comes as North Korea seeks to ease international tension over its nuclear program and alleviate its economic woes.
  • The two new destinations are attractive to South Koreans, especially those with relatives in the northern part of the peninsula.
  • Hyundai is considering two routes to take tourists to Mount Paekdu: one by air and the other through Pyongyang.
  • The company will also establish a liaison office in Pyongyang to coordinate its business in the North.
  • The South Korean government welcomed the deal, saying it is a product of improved inter-Korean relations.

Statistics:

  • Over 1 million South Koreans have visited Mount Geumgang since its opening in 1998.
  • North Korea can expect to earn up to $500 million in revenue from the tourism deal with Hyundai.
  • 150,000 tons of fertilizer and 200,000 tons of food aid have been shipped to North Korea as part of reconciliation projects.

Sources:

  • "Asia Pulse: North Korea Opens Two New Scenic Spots to South Korean Tourists"
  • Yonhap News Agency: "South Korea Welcomes North Korea-Hyundai Deal"