Pyonghwa Motors Factory Completed
Inter-Korean Joint Venture Starts in North
A ceremony to celebrate the commissioning of the Pyonghwa Motors General Factory, located in Nampo City, was held on April 6 in Pyongyang, the Korean Central News Agency said. Present there were Kim Yong Sun, secretary of the Workers' Party of Korea and chairman of the Korean Asia-Pacific Peace Committee, and members of a delegation from an automobile company in South Korea including Pak Bo Him chief director of the Korean Cultural Foundation.
A joint venture between Pyonghwa Motors Company of South Korea and Ryonbong General Corporation of North Korea, the factory has a capacity to assemble 10,000 cars a year. It has a total floor space of 23,000 square meters.
A report and congratulatory speeches were made at the ceremony. Ri Jong Chol, head of the joint venture said that the factory was expected to increase its annual capacity to produce 100,000 cars in the not too distant future. Pak Sang Gwon, president of Pyonghwa Motors Company, said that the factory will produce buses, fire engines, ambulances, garbage wagons, and "Siena," a compact model produced by Italian car manufacturer FIAT. The company will also manufacture parts and export its products in the near future, Yonhap News Agency reported.
That day, a reception was given to celebrate the completion of the factory. Kim Yong Sun met with the South Korean delegation and had a talk with it in Pyongyang.
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