North Korea's never-paid-for Volvos still 'going strong' after nearly 50 years

Sweden's national export credit agency said North Korea owes Sweden $267 million for the Volvo cars that were sold to North Korea in 1974.

Swedish Embassy's X account in 2016. [SCREEN CAPTURE}

Sweden's national export credit agency said North Korea owes Sweden $267 million for the Volvo cars that were sold to North Korea in 1974.

Voice of America reported Monday that the Swedish National Export Credits Guarantee Board (EKN) estimated the outstanding debt on the 1,000 Volvo vehicles North Korea ordered nearly 50 years ago at 2.9 billion Swedish Krona ($267 million).

The initial purchase agreement was 600 million Krona.

The order was made after North Korea had formed a diplomatic relationship with the country in 1973.

However, North Korea has not paid for the Volvo 144 sedans that arrived in Pyongyang in 1975.

The EKN said Sweden is regularly contracting North Korea regarding the overdue payment.

In 2016, the Swedish Embassy in Pyongyang posted a photo of a Volvo spotted in Pyongyang on social media, saying that one of the never-paid-for Volvos in North Korea is "still going strong," adding, "Running as taxi in Chongjin w almost half million km on odo!"

History Vids' X in 2016. [SCREEN CAPTURE}

In February this year a Twitter account "History Vids" posted a video of a green Volvo 144 traveling down a road considered to be Pyongyang with a caption "The cars [Volvos] were shipped and delivered but North Korea just didn't bother paying and ignored the invoice."

In February, History Vids, an account on X, formerly Twitter, uploaded a video of a green Volvo 144 traveling down road in Pyongyang with a caption that read, "In the 1970s, North Korea ordered 1,000 Volvo cars from Sweden ... The cars were shipped and delivered but North Korea just didn't bother paying and ignored the invoice."

The post said North Korea pulled the "largest car theft in history."

BY LEE HO-JEONG [lee.hojeong@joongang.co.kr]