TTAC's Believe It Or Not: Moonies Abandon North Korean Car Joint Venture
Reuters calls it “one of the more bizarre joint ventures in car-making,” and it is coming to an end. South Korea’s Unification Church, better known as the Moonies, is giving up its investment in the one and only carmaker in North Korea, Pyeonghwa Motors. “Giving up” is carefully chosen: The church will walk away from the business, and donate its 70 percent stake to North Korea.
Bertel Schmitt Nov 27, 20129