Hyundai Group, South Korea's 15th-largest business conglomerate, said Monday that despite the sudden death of the group's leader, it will push ahead with its inter-Korean economic cooperation projects.

Kang Myung-gu, president of Hyundai Elevator Co., said in a statement that Hyundai will honor the will of the deceased and earnestly press ahead with its inter-Korean economic projects.

Hyundai Asan has been spearheading the inter-Korean economic cooperation effort. Currently, it is in charge of a sightseeing tour to Mt. Geumgang, a scenic mountain in North Korea. After a two-month hiatus, Hyundai Asan plans to start overland trips to the mountain in September.

In June, Hyundai broke ground for a large industrial park in Kaesong, a North Korean city near the Demilitarized Zone which bisects the Korean Peninsula.

Hyundai Group has 11 companies under its wing, including Hyundai Merchant Marine, the nation's largest shipping company.