GS Caltex eye retail operations in north

GS Caltex Corp., based in Seoul, South Korea, said the company plans to build a service station in North Korea with a local civic group. The nation’s second largest refinery said it has signed a memorandum of understanding (MoU) with Jiudau, a Seoul-based non-profit organization, which has held a wide variety of cultural events in North Korea. Jiudau will secure the land, around 6,600 square meters, just south of the Gaeseong industrial park, aiming to supply gas to trucks conveying goods across the border. Details will be confirmed after the summit talks,” Cho Ho Youl of Jiudau said. Currently, all the vehicles transporting products and machinery between the two Koreas are fueled in the south. A summit between South Korean President Roh Moo Hyun and North Korean leader Kim Jong Il is scheduled in October. (August 28, 2007)