Korean Auto Firm CEOs Distressed by Protracted Slump in Local Sales

SEOUL, Feb. 20, 2004; Yonhap reported that chief executives of South Korea's five major automakers expressed deep concerns Friday over steady declines in domestic automotive sales, calling for urgent government measures to help boost consumption.

The CEOs of Hyundai Motor Co., Kia Motors Corp., GM Daewoo Auto & Technology Co., Ssangyong Motor Co. and Renault Samsung Motors Co. said their domestic assembly lines are now in danger of grinding to a halt due to the worsening slump.