Panmunjom, South Korea - The founder of South Korea's Hyundai group crossed into North Korea on Tuesday to deliver 501 head of cattle and 20 cars in a gesture aimed at the eventual reunification of the two arch foes. “I am happy to visit North Korea again,” Chung Ju-Yung told reporters before crossing the world's most heavily fortified border. “I appreciate the nation's support for Hyundai's project to develop the Keumkang Mountains area and the group's economic cooperation with North Korea. We hope this will be a basis for rapprochement, peace and unification.” Under cloudy skies, a convoy of 51 trucks carrying the cattle and 20 Hyundai sedans worth 700 million won ($532,000) slowly drove into the North at mid-morning. Chung was accompanied by his younger sister, her husband, his son Chung Mong-hun, who is the Hyundai Group chairman, and Kim Yun-kyu, president of Hyundai Engineering and Construction (0072.KS). Chung, looking frail at the age of 82, leaned on Kim for support as the group crossed the demarcation line. “They came with cattle representing their compatriotic feelings,” North Korea's official newsagency said in a report. Chung and his entourage were met at the demarcation line by Song Ho-gyong, vice chairman of the Korean Asia-Pacific Peace Committee, Jong Un-op, chairman of the National Economic Cooperation Federation, and others, the agency said. The delegation was then whisked away in Mercedes-Benz sedans. Chung said he hoped to discuss projects to benefit both Koreas during his visit to the Stalinist state, when he hopes to meet with North Korean leader Kim Jong- il. “If we meet, we will talk about matters which will help both the North and the South,” Chung told reporters prior to crossing. Hyundai officials have said there is a strong possibility Chung will meet the reclusive North Korean leader, but said they did not know the exact itinerary set by the North Koreans. Chung, who is now Hyundai's honorary chairman, also hinted he would bring back news of future cooperative projects. “In particular, I heard that there is petroleum to be found along the coast of North Korea. If there is, the North and the South could jointly develop it and open a fruitful era,” he said.
In June, Chung delivered 500 head of cattle to the North in return for permission to visit his hometown in the communist country, Tongchun, which he left in 1933, aged 18. Tuesday's trip fulfils Chung's promise to deliver more cattle and cars. When he returned from his June visit, Chung announced Hyundai would begin cruise ship tours to North Korea's Keumkang Mountains, just over the border and a staple of Korean folklore. Hyundai officials said Chung was expected to finalise plans for the tour project on this visit. “It is already an established fact (that the tour will take place). There won't be any problem with the launch,” Chung said. As for a Hyundai-North Korea project to jointly develop Keumkang Mountains, Chung said had been no concrete discussions. Local media reported the development project was likely to cost Hyundai about $900 million, but Hyundai officials have so far declined to comment. Chung is scheduled to wrap up his four-day visit to North Korea and return via Panmunjom on Friday, Hyundai officials said.
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