Billionaire Rogers recommended as outside director of S.Korean resort developer

Lim Chang-won Reporter Posted : 2018-12-10 17:44 Updated : 2018-12-10 17:44
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[Yonhap News Photo]

SEOUL -- Jim Rogers, one of the world's best-known investors, has been recommended as an outside director of Ananti, a South Korean resort developer, which has a luxury golf course in North Korea's Mount Kumgang resort complex.

Anati said in a regulatory filing Monday that shareholders would decide on whether to accept Rogers as a non-executive director at a meeting on December 27. The prominent American businessman who co-founded the Quantum Fund has shown his interest in inter-Korean economic cooperation.

At the foot of Mount Kumgang in an eastern border area, Ananti opened a resort including an 18-hole golf course, a spa, accommodations and restaurants in May 2008, after receiving 50-year development rights from Hyundai Asan. But it was shut down two months later when a South Korean housewife was fatally shot by a North Korean guard.

Cross-border tours to the Kumgang resort used to be a symbol of inter-Korean cooperation along with a closed industrial zone in the North Korean border city of Kaesong. At a summit in September in Pyongyang, South and North Korean leaders agreed to push for the resumption of suspended tour programs if things get better.

In a video interview in January, Rogers gave a positive outlook on the peaceful unification of the two Korea and said a unified Korea would be the world's most exciting country, which is ideal for investment and powerful enough to bump shoulders with Japan and China.

If united, the Korean peninsula bordering one of the world's largest markets has abundant natural resources and a pool of disciplined, educated cheap labor in the North as well as management ability, capital and know-how in the South, he said.