Korea: N Korea Resumes Construction Of Luxury Hotel

SEOUL, KOREA: North Korea has resumed the construction of a high-rise hotel building in Pyongyang last month, which was suspended for nearly 20 years due to funding problems, the Yonhap News Agency quoted informed sources as saying.

The construction of the luxury Ryugyong Hotel began in 1987 with French capital and technology for completion in 1992. The 105-storey building has long been abandoned since early 1990s amid North Korea’s chronic economic problems.

“North Korean authorities restarted the construction of Ryugyong Hotel in April,” sources said, quoting those who recently returned from trips to Pyongyang.

Orascom Telecom Holding of Egypt is North Korea’s partner for the construction, the sources said. “If completed, the hotel will be used as an accommodation for foreign investors and visitors, a business centre and an international convention centre among others,” a source said.
The 330-metre hotel is expected to be the world’s tallest when completed. (The Korea Herald/ AsiaNews)

MySinchew 2008.05.25