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Delphi and Sungwoo Establish Joint Venture in South Korea

23 July 1998

Delphi and Sungwoo Establish Joint Venture in South Korea

    SEOUL, South Korea, July 22 -- Officials for Delphi
Automotive Systems and Sungwoo Corporation today signed a joint venture
agreement that increases Sungwoo's total occupant protection technology and
Delphi's market share in the important Asia/Pacific region.
    Under the terms of the agreement, Delphi and Sungwoo will integrate the
technological, manufacturing and marketing capabilities of the two companies,
creating a formidable alliance in the field of advanced automotive occupant
protection systems.
    "We are delighted with our association with Sungwoo.  Our two companies
are very synergistic and we expect our individual strengths to complement one
another very well in the market place," said Rodney O'Neal, general manager of
Delphi Interior & Lighting Systems.
    "I am very pleased with the partnership with Delphi and believe that
together we have an outstanding opportunity to grow into a world leader in
automotive components in the upcoming millennium," added M.H. Chung, chairman
of Sungwoo.
    Sungwoo Corporation, headquartered in Seoul, currently produces airbags
and seat belts from a facility in Munmak, S. Korea, for Hyundai.  The firm's
engineering center is also in Munmak.
    Delphi Automotive Systems, with headquarters in Troy, Mich., USA, is the
world's most diversified supplier of automotive components, systems and
modules.  With the addition of Delphi Delco Electronics Systems, Delphi
operates 208 manufacturing facilities, 46 ventures and 27 technical centers in
37 countries.  Regional headquarters are located in Paris, Tokyo and
Sao Paulo.  Delphi can be found on the Internet at http://www.delphiauto.com.