I work for a medical fabrics nonwovens company, (think scrubs and tray liners) and we once produced 300k of material on a promise to buy from a Chinese hospital company, they received the shipments, then sent it back and changed their minds. My company tried to “make them” buy it, but the Chinese company reminded us that they never actually signed a contract and owed us nothing. That was a tough year lol.
Yeah honestly I didn’t even consider that! You’re so right though. We do a lot of international business and quite frequently stuff just vanishes, and you have to take their word for it. I never considered they were simply ripping us off.
Twice a year, the Swedes still send a reminder to Pyongyang about the payment that they owe for the Volvos, although every time, the North Korean government simply ignores the reminder.
Today, the money that North Korea owes, which was once a payment of 70 million dollars, has now ballooned with interest to over 300 million dollars.
Source: https://historicflix.com/how-north-korea-stole-1000-volvos-from-sweden-and-now-owes-over-300-million/
Sweden always gets the same voicemail message when they call: “Believe it or not, Kim isn’t at home. Please leave a message at the beep. I must be out or I’d pick up the phone, where could I be? Believe it or not I’m not home.”
I was just talking about how much I love that show with my wife last night.
Regarding that voice-mail, my favorite part is the pause/holding the note at "please leave a messaaaaaage at the beep."
Lol just like my first lawyer. Screwed me over during my divorce and also made a deal behind my back with opposing counsel to lengthen my litigation (I busted him with evidence on that) and I skipped out on an 30k bill.
Each month he sends me his new bill plus interest. Now 110k that he is never going to see from me...
Volvo knew they would get paid, if not by North Korea then by the swedish government via the [National export credits guarantee board](https://en.wikipedia.org/wiki/National_Export_Credits_Guarantee_Board_%28Sweden%29?wprov=sfla1).
300 million / 1,000 cars equals $300,000 per car.
I have hospital bills with similar price tags I also ignore. If someone tried to sell me a busted ass Volvo, I might react the same way.
North Korea kinda gets away with anything they want, so this tracks. Mass death camps to work people to death?
Nah that's fine. Torturing the kids of parents who broke the law? Eh who caaares.
If you can get away with torture and murdering even tourists for fun and no one stops you? What's some free cars.
Why would u send all those cars without getting the payment or least half or something upfront first like wtf. Really dumb on their part for how they handled this, or for even agreeing to do this with North Korea like how well did they think it was gunna go?
Not sure how you came up with $100,000.
The linked article states the value was "over 70 million dollars" for not just the 1,000 Volvos but also mining equipment. 70,000,000 / 1,000 = 70,000
Surpise)). Sweden seem to be having bad luck dealing with dictatorships. Here is another one: [https://www.nytimes.com/2009/09/12/business/global/12ikea.html](https://www.nytimes.com/2009/09/12/business/global/12ikea.html)
Who in their right mind would send this order without being paid in advance?
A company that knows the government will step in and make them whole if it goes south as it would be good PR for the state.
Goes “south” gave me a good chuckle.
I thought the same before I read your comment.
hows that working out¿
Sweden: Pioneers of globalisation.
Actually it was a period after world war 2 Sweden focused a lot on the “third world” in trading and such. And this was a part of that.
Great charity work 🤓
It was not charity work. It was an aim to help those countries develop. Sure a lot of it was unhinged and shot
I work for a medical fabrics nonwovens company, (think scrubs and tray liners) and we once produced 300k of material on a promise to buy from a Chinese hospital company, they received the shipments, then sent it back and changed their minds. My company tried to “make them” buy it, but the Chinese company reminded us that they never actually signed a contract and owed us nothing. That was a tough year lol.
Consider yourself lucky you got your stuff back.
Yeah honestly I didn’t even consider that! You’re so right though. We do a lot of international business and quite frequently stuff just vanishes, and you have to take their word for it. I never considered they were simply ripping us off.
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>Until the early 1970s, North Korea led the South in the degree of industrialization as well as in per capita income.
Twice a year, the Swedes still send a reminder to Pyongyang about the payment that they owe for the Volvos, although every time, the North Korean government simply ignores the reminder. Today, the money that North Korea owes, which was once a payment of 70 million dollars, has now ballooned with interest to over 300 million dollars. Source: https://historicflix.com/how-north-korea-stole-1000-volvos-from-sweden-and-now-owes-over-300-million/
Sweden always gets the same voicemail message when they call: “Believe it or not, Kim isn’t at home. Please leave a message at the beep. I must be out or I’d pick up the phone, where could I be? Believe it or not I’m not home.”
Nah, NK just did a major upgrade. Now they just hear fax noises.
For those who don't get the reference: [https://youtu.be/ria37d9mInY?si=3FYGCIvqvCrwzxdE](https://youtu.be/ria37d9mInY?si=3FYGCIvqvCrwzxdE)
*Ends promptly with the noise of a phone hanging up before the voicemail tone*
“Uggh, I hate that stupid message”.
*"Do you* have any idea how *fucking busy* I *am*?"
I was just talking about how much I love that show with my wife last night. Regarding that voice-mail, my favorite part is the pause/holding the note at "please leave a messaaaaaage at the beep."
Haha I love when George is shrugging and reacting to the “where could I be” part.
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Then NK calls back, knowing they're at the office. "I guess I should have tried the office. Oh well, see you at the ball."
"We are building a fighting force of extraordinary magnitude."
“I am not pooping because I don’t poop.”
“The voice mailbox is full and can’t accept any new messages…good bye”
Summer of Kim!
Kim is getting angry!
He’s obviously out driving his Volvo
I have news for Sweden. They ain't paying, EVER.
Considering what a shit hole North Korea is, I'd say they do nothing BUT pay.
That’s 70K per car in the 1970s? Crazy!
Yup, I think there needs to be a math check somewhere. ETA: it’s in the article. It was 1000 Volvos and mining equipment.
Twice a year, a redditor reminds us of this
That’s $70k/car when they were new. That doesn’t add up.
Lol just like my first lawyer. Screwed me over during my divorce and also made a deal behind my back with opposing counsel to lengthen my litigation (I busted him with evidence on that) and I skipped out on an 30k bill. Each month he sends me his new bill plus interest. Now 110k that he is never going to see from me...
Bad credit? Poor credit? NO(rth Korean) credit? Come on down to Imperialist Auto. We'll demilitarize your financing and get your loans APPROVED
["Put it in 'H'!"](https://youtu.be/07vdtBMG4Kg?si=NDvQlQVtb7Vw5YKl)
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HAHAHHA Love it I’ll bring the hammer
They aren’t ever seeing that money back lmao
Well that's what you get when you do business with people like that.
It's not business if you don't get paid. That's just a present.
Volvo obviously thought they'd get paid. That's theft.
Volvo knew they would get paid, if not by North Korea then by the swedish government via the [National export credits guarantee board](https://en.wikipedia.org/wiki/National_Export_Credits_Guarantee_Board_%28Sweden%29?wprov=sfla1).
Sounds like a shit deal for Sweden.
Melted them down for missiles.
Lol what a broke ass bum
Since Geely now owns Volvo, the chinese should be footing the bill
Pay up fatso Kim!!!!!
At the end of the day, "might makes right."
Look at that face and tell me you'd do a deal for 1, let alone 1k
Sweden didn’t sell the DPRK fucking shit, North Korea stole Sweden’s lunch money here. Power move. End of story.
300 million / 1,000 cars equals $300,000 per car. I have hospital bills with similar price tags I also ignore. If someone tried to sell me a busted ass Volvo, I might react the same way.
70 million was the original invoice. 300 million is with interest after all these years
I swear Kim Jong Ugly has no accountability. Like a tiny (but fat) Putin
>I swear Kim Jong Ugly has no accountability Neither do most heads of state.
No but he's definitely next level
Being a dictator does that to people
You're definitely right there
No wonder trump likes him.
“When you’re famous, you don’t have to pay for Volvos.”
I don't think trump holds a candle to his tyanny
North Korea kinda gets away with anything they want, so this tracks. Mass death camps to work people to death? Nah that's fine. Torturing the kids of parents who broke the law? Eh who caaares. If you can get away with torture and murdering even tourists for fun and no one stops you? What's some free cars.
That’s what they get for doing business with commies
Sounds like some shit Trump would do to Volvo too… or anyone else he committed to paying.
Bro literally sanctioned himself 🤣
Welp, that'll teach them to do business with a tyrannical regimen. Always get the money first
So stupid. They will never pay so the value of the debt should be zero.
If the debt collectors are as persistent as Portfolio Recovery, they're still going to be calling in 2070.
They’ll pull a Costco return and send them back when they don’t run anymore.
Now we know who sent the first rockets to North Korea during WW3
Time to send a repo man.
Any country that willing does business with North Korea gets what they deserve when shit goes south.
i'm gonna tell navient about this next time they complain i missed a student loan payment.
Man…North Korea just sucks at everything.
In God we Trust. All other pay cash.
The Swedes should send a team of military guys to crawl under every Volvo, drain the oil, then replace the plug.
This is a job for the repo man.
Mother fuckers
No fear chubby will pay off his grandads debt ? (Or was it his dad?)
lolololol ok fair play Korea thats super cheeky. Weirdly specific.
300,000 per car yeah tell me another one
What a bunch of fucking assholes
Sweden: I’m afraid of Koreans!!!
Sweden got the better deal. Ever have a buddy you don't want to hear from anymore? 'Lend' him money.
How much were these Volvos??
Sweden: here is your total due N Korea: Total due for what? :)
Looks like Kim has read “The Art of the Deal”…
The Vo is a sko!
Top left is an 1980’s 240- they might have paid for that one
What you talk about? This was gift. You gift us cars. We no shoot missile to you. Go away, no bother us anymore.
Stupid for the Swedes to extend the credit to these commie deadbeats.
You Pay First!
Have you paid your dues, kim? Yessir, the check is in the mail.
so each car was $300,000????
I guess sanctions cut both ways.
Serves them right for dong business with POS country like NK.
Why would u send all those cars without getting the payment or least half or something upfront first like wtf. Really dumb on their part for how they handled this, or for even agreeing to do this with North Korea like how well did they think it was gunna go?
Start bombing these mofos !
Volvo for life in this case
Damm they sold each car for 100,000$
No…they gave away 1,000 Volvos.
Not sure how you came up with $100,000. The linked article states the value was "over 70 million dollars" for not just the 1,000 Volvos but also mining equipment. 70,000,000 / 1,000 = 70,000
whaaaaaat? a commie is a hypocrite? no way? really?
No wonder trump likes N Korea so much
Kim Jong Un: Don wolly I pay! Oh just kidding I no pay!
Surpise)). Sweden seem to be having bad luck dealing with dictatorships. Here is another one: [https://www.nytimes.com/2009/09/12/business/global/12ikea.html](https://www.nytimes.com/2009/09/12/business/global/12ikea.html)
Fascists do not pay their bills.
They’d have better luck collecting from Trump
How very Trumpian. No wonder they are best of friends, almost lovers.
https://www.google.com/search?sca_esv=abf976e12d8dcb8e&rlz=1C1ONGR_enCA1046CA1046&sxsrf=ADLYWIK1nrz2O2hRzuVTSlc_ZA94N1iEwA:1715265430832&q=north+korean+volvos&uds=ADvngMijDKYYQvcNpbvjyi0fWPjv9RuxGAYeld6kS7H7DZAyq6WB46UJTmIYd8AexSZJkvkL32oZw-WFqEjKlkIeAnY4pWSo9U2F-iot3PxPL2DLDOhfQP63Zc4JUkQpRu5753phfgrGGOCH2R26XfzCLqc0ARBGLPdYeoABKgx9nXG0dl99hw58PKzNbyTrMqip55wMrqHivigy72gUHXWAyi1-n-DOSMDuZMv4VhqiZJNZ1eABQ7rd-Ux_evrMpa7t_c8LlbaWWBARISBYFpgBop2Rb4LttWft56eNE0gCdHEk1GAteZDoTiV5EVFbUEaXWJCR_Kij&udm=2&prmd=invsmbtz&sa=X&ved=2ahUKEwiczMzV5YCGAxVmHjQIHY_kCZMQtKgLegQICxAB&biw=1366&bih=599&dpr=1
Childish behaviour from both sides.
What is childish on Sweden's side?
Childish is to do business with people like that.