Certainly one of Volvo’s sedan automobiles from 1974.
In a world the place international locations typically have difficult relationships with North Korea, Sweden’s single criticism in opposition to the nation’s regime is considerably surprising: a debt that has been unpaid for over 49 years and continues to develop with curiosity.
North Korea positioned an order for 1,000 Volvo 144 fashions and different mechanical gear value $73 million with Swedish firms again in 1974. Nonetheless, North Korea by no means paid for the order, and because it has remained unpaid for the previous 5 a long time, the overall has elevated to roughly $330 million.
In line with Newsweek, North Korea started importing gear from Western industrialised international locations to increase its entry to international capital and expertise. The nation promised to pay its collectors both with future manufacturing or mining merchandise, however it quickly grew to become clear the regime had no intention of honouring its money owed.
The web retains mentioning the story of North Korea’s unpaid debt for Volvo automobiles, together with pictures of the automobiles, sparking folks’s curiosity on this unusual transaction.
Here’s a tweet from the Swedish Embassy that was posted in 2016: “Nonetheless going sturdy. One of many Volvo’s from 1974 remains to be unpaid for by DPRK. Run as a taxi in Chongjin.”
Nonetheless going sturdy. One of many Volvo’s from yr 1974 nonetheless unpaid for by DPRK. Working as taxi in Chongjin w virtually half million km on odo! pic.twitter.com/2FaMpnPow7
— Sweden in Pyongyang (@SwedenDPRK) October 21, 2016
North Korea nonetheless makes use of these automobiles, and more often than not for particular functions. In line with a report by NPR, US journalist City Lehner rode in a dashing Volvo 144 sedan throughout his two-week journey to North Korea in 1989. He remembers that visiting journalists often rode in these automobiles and that the roads have been so empty that drivers may typically have the highway to themselves.
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