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Dismissed Executive Defends Hyundai Group

Written: 2005-10-23 16:29:03Updated: 0000-00-00 00:00:00

Dismissed Executive Defends Hyundai Group

Former Hyundai Asan Vice Chairman Kim Yoon-kyu said on Saturday that Hyundai Group should be allowed to continue its tourism business and other projects in North Korea, actively defending the position of the company despite the fact it dismissed him for alleged embezzlement.

Kim made the remarks to reporters on Saturday while returning home from a month-long trip to Japan and China. He was ousted in August over the alleged embezzlement of company funds.

The company’s point man for operations in North Korea also said that it is unthinkable for Pyongyang to exclude Hyundai from tourism projects in the North while proceeding with other partners.

Kim also said that he has no intention of doing any business with North Korea with any other firm, hinting at his wish to return to Hyundai.

Attention is now on whether Kim will play a role in resolving the conflict between Hyundai and Pyongyang.

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