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.
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