KNTO

Specifics concerning the amount of money to be loaned to the KNTO from the government's ''Fund for South-North Exchange and Cooperation'' and conditions attached to the loans will be determined later after the issue is reported to the National Assembly, it said.

On Tuesday, KNTO made a formal request to the government for a loan of 90 billion won (about $69.3 million) to be spent on the tour project that has been operated by Hyundai Asan Co.

KNTO announced its decision last Wednesday to take part in the tour project, saying its decision is based on the judgment that the project will eventually be profitable if an overland route across the demilitarized zone between the two Koreas opens as expected.

"We expect the number of foreign tourists to easily break this year's goal as the number of Japanese tourists had been on the increase before the territorial dispute, and the number of Chinese travelers has soared," the KNTO said.

The KNTO aims to attract 11 million foreign tourists this year, an increase of 12.4 percent from last year.

An agreement to this effect was signed by KNTO President Cho Hong Kyu and Hyundai Asan President Kim Yoon Kyu in a ceremony at the KNTO building in Seoul.

Under the agreement, KNTO will participate in attracting and transporting tourists at home and abroad, and will take part in other projects, such as building a golf course, ski resort and duty-free shops in the Mt.

In a desperate effort to keep the project afloat, KNTO announced it would join the project on June 20.

The South Korean government loaned about $70 million to KNTO to enable Hyundai Asan make an overdue $22 million payment to North Korea on July 2.