OVERSEAS tourists could be granted permission to board cruises to Mt. Kumgang, in North Korea, by as soon as the end of this month.
Hyundai Merchant & Marine (HMM), started the cruises for South Koreans only in November last year. The group is now gearing up to welcome aboard overseas tourists.
A spokesman said that could happen by the end of October. He said the group was presently working on application procedures for foreigners.
"We expect foreigners to join [the cruises] to Mt. Kumgang by the end of October, if things go smoothly. We are now working on the application procedures and prices''
Some 110,000 South Koreans have joined the cruises since the launch last November.
Earlier this month, North Korea's leader Kim Jung-Il was seen to give his nod of approval for overseas tourists to join the cruises. "Why not? Let's start it immediately,'' he was quoted as saying.
Currently, South Koreans pay 790,000 won (US$658) to 1.18 million won ($983) depending on season or class for the cruise.
Hyundai has spent US$258 million more than it has earned, say lawmakers, since it has been operating tours to Mt. Kumgang.
There have been 80 accidents reported, for which Hyundai has paid 113 million won as insurance to those tourists involved.
In a further development, Hyundai Group has reached an agreement with North Korea to rent Kumgangsan Inn, located near Mt. Kumgang, for an unspecified period.