It Makes a Difference to the Sheep

MORE CLOUDS THAN SUNSHINE: The South Korean KCC group has taken control of the Hyundai Group's holding company. The new powers that be were swift to announce that Hyundai's North Korean projects should turn a profit, and soon, or else.

Hyundai Asan Co.'s unprofitable tourism and other business projects in North Korea may also derail, as KCC Group said it would think twice about them if the situation did not improve.

If the KCC group is serious about this, then one might as well write off all Hyundai projects in North Korea. The chances of any of them turning a profit in the near future are next to nothing. Queries made to even proponents of sunshine in the ROK government about when any of the investments in North Korea might be expected to actually make money are universally met with nervous laughter. These projects aren't about profits, they're about reconciliation, about reunification but only after a long, long, long "soft landing."