Legal Frameworks of Property Reclamation and Reconciliation: The Case of Kum Kang Mountain Resorts

The purpose of the study is to identify the future destiny of Kum Kang Mountain (KKM) resort through the perspective of international property law with a particular emphasis on legal frameworks of property rights. The recent political movement in North Korea signals the expropriation of private property rights and an intention to nationalize the capital and facilities. This study intends to predict the impending destiny of KKM resort utilizing an analysis of various property expropriation cases as a model. In particular, a case of Cyprus demonstrates specific areas of interest such as politics, sociocultural affairs, property disputes and tourism collaboration to compare with the KKM resort. Cases of war, migration, property expropriation and reconciliation and attempted restoration of property are examined. The study also provides the fundamental principles and rules of international property rights as they relate to the legality of expropriation. A preventive mechanism and proactive ways to cope with expropriation risks are investigated. The study concludes with implications and future prospects of KKM resorts, followed by areas of future research interests. An evaluation of the current nature of the KKM characteristics shows that the reasons for optimism to recover the property outweigh those of pessimism. However, the problem of KKM resorts must not be viewed solely from the perspective of tourism nor of the survival of the economy of North Korea. It might be considered a preliminary leap to achieve the future unification of the Korean peninsula.