The Hyundai Group is puzzled over North Korea's threat of reconsidering all business projects with Hyundai Asan Corporation unless Kim Yoon-kyu is rehired as vice chairman.

The conglomerate on Thursday said in a statement that it has explained its position on Kim to the North several times, but that talks will continue with Pyongyang.

The statement cited group chairwoman Hyun Jung-eun's commitment to inter-Korean projects and the company's long ties with the North set up by the late Hyundai founder Chung Ju-young and his son, Mong-hun.

Kim, Hyundai's long-time point man on the North and a Pyongyang favorite, was recently fired for embezzlement.

Hyundai said it hopes the Mount Geumgang tour will return to normal soon given the role of cross-border projects in promoting peace on the Korean Peninsula.