South Korea's Daewoo Considers North Korean Plant

08/20/96

Comline has reported that the Daewoo Group has completed negotiations over an automobile project with North Korea. A United Nations Industrial Development Organization (UNIDO) report says that Daewoo and the North Korean government discussed forming a 300 hectare industrial site for producing trucks and passenger cars.

The UNIDO report did not mention details but did say that North Korea had also also engaged General Motors and Chrysler in negotiations.

Last March North Korea announced that it would allow foreign investment in automobile parts, auto assembly, and motorcycles in the country.

Paul Dever -- The Auto Channel