The Democratic People's Republic of Korea (DPRK) on Tuesday expressed condolences over the death of Chung Mong-hun, a top executive of South Korea's Hyundai group, and said it would suspend a joint tourism project with South Korea.

Chung, chief of Hyundai's subsidiary, Hyundai Asan Corp., jumped from his 12th floor office in central Seoul early Monday. Hyundai Asan is engaged in joint ventures with the DPRK.

Chung had been under investigation for his role in alleged payments to Pyongyang ahead of an inter-Korean summit in 2000.

In a statement, the DPRK's Asia-Pacific Peace Committee, the DPRK partner in the joint Mt. Kumgang (Diamond Mountain) tourism project with Hyundai Asan, said it has decided to suspend the project for a period of time as a show of respect to Chung.

"Due to the death of Chung Mong-hun, who tried so hard to show the South Koreans our nation's noted Diamond Mountain, we will temporarily suspend the Diamond Mountain tourism project," the committee was quoted as saying by the DPRK official news agency KCNA.

The committee praised Chung for his contribution to economic cooperation and reconciliation between the north and south on the Korean Peninsula.

"The Korean nation will not stop their efforts for national reunification and common prosperity, even there'll be some difficulties on the road of reconciliation, unity , reunification and cooperation," it said.

Hyundai Asan, launched in 1999, manages the Mt. Kumgang tourism project with the DPRK. Earlier this year, it began the construction of an industrial park in the DPRK city of Kaesong, near the border with South Korea.

(Xinhua News Agency    August 5, 2003)