North Korea’s Unpaid Volvo Debt — Still Owed After 50 Years #volvo #northkorea #history | Past In Seconds
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North Korea’s unpaid Volvos #swedentravel #NorthKorea #Volvo144 #ColdWarHistory #debt | One min story
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In 1974, North Korea received 1,000 Volvo 144 sedans—along with industrial equipment—worth about $73 million and never paid for them. With decades of interest, Sweden’s claim has grown to roughly $330 million. Twice a year, the Swedish Export Credit Agency still mails an invoice to Pyongyang, each one ignored. Remarkably, a few of those boxy Volvos can still be seen driving through North Korea today—rolling IOUs left over from the Cold War. | Historyinmemes
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