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Hyundai Asan Cuts Costs Amid Drop in Tourists to NK

Written: 2006-11-24 18:00:28Updated: 0000-00-00 00:00:00

Hyundai Asan Cuts Costs Amid Drop in Tourists to NK

Hyundai Asian, which operates tours to North Korea’s Mount Geumgang resort, is taking “emergency" out-of-season measures due to the declining number of tourists following the North’s nuclear test.

Hyundai Asan said the measures include having ten percent of its head office employees work at home from December first to the end of March next year.

The company will also tell some of its staff at the mountain resort to return to Seoul.

In addition, Hyundai has deferred payment on up to 30 percent of salaries and bonuses to its executives and staff.

It will also close two of its three tourist hotels at the resort until the end of March.

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