A well-known and internationally-connected North Korean conglomerate with military affiliations appears to have significantly downsized or even fully shut down, according to an investigation conducted by NK News.
Korea Kumgang Group (KKG) — best known for operating an imported fleet of maroon and gold-colored taxis and for its plans to redevelop downtown Pyongyang — was previously at the forefront of North Korean efforts to win major foreign investments. But a deadly April 2018 bus accident was disastrous for the budding conglomerate, according to informed sources. Street-level photos and satellite imagery also support this claim.
A well-known and internationally-connected North Korean conglomerate with military affiliations appears to have significantly downsized or even fully shut down, according to an investigation conducted by NK News.
Korea Kumgang Group (KKG) — best known for operating an imported fleet of maroon and gold-colored taxis and for its plans to redevelop downtown Pyongyang — was previously at the forefront of North Korean efforts to win major foreign investments. But a deadly April 2018 bus accident was disastrous for the budding conglomerate, according to informed sources. Street-level photos and satellite imagery also support this claim.
Try unlimited access
Only $1 for four weeks
Unlimited access to all of NK News: reporting, investigations, analysis
Year-one discount if you continue past $1 trial period
The NK News Daily Update, an email newsletter to keep you in the loop
Searchable archive of all content, photo galleries, special columns
Contact NK News reporters with tips or requests for reporting
Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.
Subscribe now
All major cards accepted. No commitments – you can cancel any time.
SHARE
COPY LINK
X
MASTODON
