North Korean conglomerate faces serious fallout after deadly bus accident | NK News
NK News Logo
November 25, 2024
NK News is hiring
Evergreen

North Korean conglomerate faces serious fallout after deadly bus accident

Korea Kumgang Group appears to have downsized or shut down completely after a once-successful run

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.

Become a member for less
than $5.75 per week.

  • Unlimited access to all of NK News: reporting, investigations, analysis
  • 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.