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Further good news for Pyonghwa Motors

2 Koreas sign summit declaration

By JAE-SOON CHANG, Associated Press Writer

SEOUL, South Korea - The leaders of North and South Korea pledged Thursday to seek a peace treaty to replace the Korean War's 1953 cease-fire and expand projects to reduce tension across the world's last Cold War frontier.

South Korean President Roh Moo-hyun, left, toasts with North Korean leader Kim Jong Il at a farewell lunch in Pyongyang, North Korea, Thursday, Oct. 4, 2007. The leaders of North and South Korea signed a wide-ranging reconciliation pact Thursday pledging to finally seek a peace treaty to replace the 54-year-old cease-fire that ended the Korean War. (AP Photo/ Korea Pool via Yonhap)

The pact came a day after a deal at China-hosted arms talks among North Korea, the U.S. and other regional powers, in which Pyongyang promised to disable its main nuclear facilities and fully declare its nuclear programs by Dec. 31.

Roh's Visit to Pyonghwa Motor Brightens Auto Industry in North Korea

By Kim Yoo-chul

Staff Reporter
Korea Times

Expectations are high as car making projects in North Korea will gain additional momentum after President Roh Moo-hyun’s visit to the Pyonghwa Motor Plant in Nampo near the North’s capital of Pyongyang.

``(In the future) engines will be produced and I look forward to seeing more facilities that produce car components in the area around the plant,’’ Roh was quoted as saying before he left to view a water lock in the North’s port city of Nampo.

Pyonghwa Motors Group, an automaker owned by the Unification Church of Rev. Moon Sun-myung, has exclusive rights to produce cars for the North Korean market.


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