An association of South Korean companies has urged the Seoul government to immediately resume inter-Korean tours to North Korea’s Mount Geumgang resort and lift its sanctions against the North.

The association of 49 South Korean companies investing in the suspended tour program held a news conference on Tuesday at Press Center in Seoul, saying that the suspended tours have caused the companies losses of 800 billion won.

The association, which excludes Hyundai Asan, the operator of the tour program, urged the government to introduce legislation to compensate the companies for their losses from the suspended tours and help them continue doing business in South Korea.

South Korea suspended the tour program in July 2008 after Park Wang-ja was shot dead by a North Korean military guard at the resort.