Sweden still owes the payment for 1,000 Volvos from North Korea; Read in detail
Decades back in the 1970s, Swedish companies looked forward to expanding into a promising new market and found potential in North Korea. At the time, North Korea had emerged as one of the most economically strong countries. Notably, Sweden, which had Volvo 144s, the robust and boxy sedans in production, signed a huge contract with North Korea for the delivery of 1,000 Volvo cars. The order for the 1,000 Volvo cars of their 144 model was placed by Kim Jong-un’s grandfather, Kim Il-sung in 1974 and it was eventually shipped that year. However, there is a catch to it. Word soon got out and it was revealed that Sweden was never paid for the order. It’s been 49 years since then, but it seems North Korea is still in no mood to make the long-term payment.
Recalling the same, a video of similar Volvo cars has been shared by a Twitter handle called History Vids. The title of the post called it the “biggest car theft” in history, “In the 1970s, North Korea ordered 1,000 Volvo cars from Sweden. The cars were shipped & delivered but North Korea just didn’t care to pay and ignored the invoice. To this day, the bill is unpaid, making it the largest car theft in history.”
Look at:
In the 1970s, North Korea ordered 1,000 Volvo cars from Sweden. The cars were shipped & delivered but North Korea just didn’t care to pay and ignored the invoice. To this day, the bill remains unpaid, making it the largest car theft in history. pic.twitter.com/SYbubt8due
— History Vids (@historyinmemes) February 1, 2023
In response to the video, many social media handles took to the comments section and posted shared reactions. One user wrote, “The start of advance payments,” while another user wrote, “There’s a lot of interest.” Some also pointed out why such a large order was delivered without receiving any payment.
Sweden’s wait for payment of 1,000 Volvos continues
With almost 50 years since the order was placed, the amount due for the 1,000 Volvo cars has passed a certain limit and it seems that the chance of getting the payment is close to zero. While the Swedish authorities continue to send bills to North Korea twice each year, the fees have risen with interest and other taxes and have currently amounted to around 300 million euros.
Although the Swedish government has already paid the entire car manufacturing company with public funds, it still owes money from North Korea for the exported goods.
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