Volvo Plans To Build Truck Plant In South Korea

SEOUL January 14, 2003; Dow Jones reports tha Volvo Korea plans to build a truck assembly plant in Changwon, an industrial complex in the southern part of South Korea, the Seoul Economic Daily reports.

Volvo Korea said it is considering establishing a plant with production capacity of 1,500 units a year to keep pace with growth in the domestic heavy truck market. Trucks assembled at the plant will be sold domestically, the paper says, without naming sources.

Although core parts, including the engine, will be supplied from Sweden, Volvo Korea plans to manufacture some parts locally at Changwon, according to the report.

Volvo AB already operates a plant in Changwon, says the daily.

Newspaper Web site: http://www.sedaily.com