How to build the wrong reputation

The biggest car heist in history: How 1,000 Volvos went missing

Half a century ago Volvo shipped 1,000 cars to North Korea. The Swedish Export Credit Agency is still sending reminders to pay the bill.

In 1966 Volvo launched the 144 series. The timeless design, safety features and classic Volvo practicality made it a best seller. Over the next eight years, 523,808 models were produced, making it Volvo’s biggest volume model by some margin.

The 144 attracted admirers across the globe, including in North Korea. At the time, Sweden was one of the few countries to have established diplomatic relations with the state – and some Swedish companies saw both a potential export opportunity and a means to cement that relationship.

Some of the 144s acquired by North Korea are still running, many as taxis, though likely somewhat roughly, given limited access to parts.

Reputations are easily acquired but not so easily erased -

North Korea courts Chinese private investors for Pyongyang commercial complex

Ministry of External Economic Affairs leads effort to secure goods and foreign currency through private Chinese capital, as legal risks give investors pause

Chinese investor reaction has been mixed. Some view North Korea as an untapped market with significant upside, but others are urging caution, citing policy uncertainty and a lack of institutional stability.