Hyundai Group launches task force on inter-Korean economic projects

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08/05/2018 03:57

SEOUL, May 8 (Reuters) - South Korea's Hyundai Group said on
Tuesday it has created a task force to prepare for the possible
resumption of economic projects in North Korea, after a summit
between the nations fuelled hopes of exchanges between the two
countries. 
    Last month, South Korean President Moon Jae-in and his North
Korean counterpart Kim Jong Un agreed to end hostilities between
their countries and to "adopt practical steps towards the
connection and modernisation of the railways and roads."
    Moon also said he expected the two Koreas to start joint
research to pursue inter-Korean economic projects, declaring an
official end this year to the 1950s Korean war.  urn:newsml:reuters.com:*:nL3N1SF1JX
    Hyundai Group's flagship unit, Hyundai Asan, used to operate
two key inter-Korean economic projects - South Korean tours to 
North Korea's Mount Kumgang and a joint industrial complex in
the North's Kaesong city - which were suspended by previous
conservative administrations.
    The group expects inter-Korean economic cooperation to gain
momentum when "conditions are ripe" regarding bilateral
relations and as the sentiment from the international community
improves.
    "We will be thoroughly prepared so that we can resume
inter-Korean projects within the shortest time possible," the
group said in a statement.
    

 (Reporting by Hyunjoo Jin; Editing by Sam Holmes)
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net))