Hyundai Asan will build shopping centers and homes for sale to South Koreans in the Mount Geumgang tourism zone in North Korea.

Hyundai Vice President Kim Yoon-kyu on Wednesday said the company will start construction one kilometer across the Haekum Hotel near the North's port of Jangjeon and seek permission from the Unification Ministry.

To earn profits from inter-Korean ventures over the long term, Hyundai will also set up with the North a joint jewelry processing firm in Onjeong-ri, an area within the tourism zone.