North Korea has warned the Hyundai Group that it will reconsider all business projects unless Hyundai Asan Corporation rehires Kim Yoon-kyu as vice chairman.

A spokesman of the North's Asia-Pacific Peace Committee on Thursday said Kim's dismissal was an act of broken faith and that it ignored the gratitude of North Korean leader Kim Jong-il.

Saying the firing has forced Pyongyang to seek a new partner for the Gaesong tour, the spokesman said the North could show its generosity by allowing Hyundai Asan to continue the Mount Geumgang tour if the company makes the right decision.

The North also said it could snub the agreement on seven major projects signed with Hyundai Asan in August 2000, despite a clause allowing amendments or renegotiation if necessary.

The group in August fired Kim Yoon-kyu, its long-time pointman on the North, for embezzlement.