The Formosa Group, however, revised its decision at the end of January, saying that the tense relationship between the US and North Korea forced it to postpone the project.
Formosa also has investments in China and the US, and produces cars in South Korea.
The NSC official said there was no need for the government to pressure any companies on such issues because "they know the sensitiveness of such investments, especially after US officials said North Korea admitted in October to having a nuclear program in violation of a 1994 agreement."
Deputy Secretary-General to the President Joseph Wu (
Washington and its allies suspended oil shipments to North Korea after they said it admitted having a nuclear weapons program. North Korea then expelled UN nuclear inspectors and pulled out of a global nuclear arms control treaty as its reaction.
North Korean Vice Premier Kim Dal-hyun signed a bilateral agreement with Taiwan's Ministry of Foreign Affairs to set up representative offices in each other's capital in 1992. The agreement subsequently broke down as a result of tense relations between North Korea and the US.
RSS