Table 3.

Process of Mt. Gumgang tourism development from 1998 to 2003

Year	Month	Content
1998	6	Agreement of Mt. Gumgang tourism development by the inter-Korean joint venture
	9	Agreement to pay royalties, US$ 12 million per month
	11	Start of the Mt. Gumgang tour by the cruise boats Gumgang and Bonglae
1999	1	Opening of rest complex at Mt. Gumgang
	2	Establishment of the Hyundai Asan Corporation and the opening of the Mt. Gumgang culture center
	5	Starting of the cruise tour to Pungak
	6	Interruption of Mt. Gumgang tour due to the detention of a South Korean tourist
	8	Reopening of Mt. Gumgang tour
	11	Opening of Mt. Gumgang spa
2000	5	Completion of the pier in Gosung and restaurant at Mt. Gumgang
	10	Opening of the floating hotel, Haeaumgang, and start of the speed cruise boat, Selbong
2001	3	Death of J.Y. Jung, the founder of the Hyundai Group
	6	Agreement of Mt. Gumgang tour by land route and the payment in proportion to the number of tourists
		Participation in the Korea National Tourism Organization as a joint partner supporting US $69.2 million
2002	1	Fund crisis at the Mt. Gumgang tourism development—monthly deficits of between US $1.54 and US $2.31 million
	3	Announcement of the supporting plan for Mt. Gumgang tourism development—support of subsidies ranging from US$190 to US$200 per person for 10.3 million citizens
	5	Opening of accommodations, Gumgang village, spa village, and forest dome
	11	Announcement of the special law and appointment of Mt. Gumgang as a special place
	12	Completion of temporary road for Mt. Gumgang tour by land route
2003	2	Start of Mt. Gumgang tour by land route
	4	Interruption of Mt. Gumgang tour due to SARSa
	6	Reopening of Mt. Gumgang tour by sea route
	8	Death of M.J. Jung, the president of Hyundai Asan
	12	Opening of the Mt. Gumgang pension town

Source: Adapted from Hyundai Asan Corporation (2003/4) and Yonhap News (1998–2003).

^aSARS: Severe acute respiratory syndrome.