In the 1970s, Sweden began to see North Korea as a lucrative market. Swedish companies like Volvo, ASEA, Kockums, Atlas Copco, and Alfa Laval wanted to export their products to the country and held an industrial exhibition in Pyongyang.
During that decade, North Korea imported various items, including about 1,000 Volvo automobiles that were never paid for, prompting Soviet diplomats to call it “largest car theft in the human history.” These Volvos were a common sighting in Pyongyang until the 2010s. They have since become increasingly difficult to maintain. North Korea still owes 2.2 billion Swedish kronor (234 million euros) to Sweden from these imports.
Out of all countries, the North Korean debt to Sweden is the largest, followed by Iraq whose debt is a billion kronor smaller.
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