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PACIFIC WATCH

South Korea

October 02, 1995| Times Staff and Wire Reports

Ford Forms Venture With Kia: Dearborn, Mich.-based Ford Motor Co., in a pioneering move for a North American auto maker, said it will form a joint venture with Kia Motors Corp. to distribute Taurus, Windstar, Mondeo, Explorer, Lincoln Town Car, Lincoln Continental and Mustang automobiles in South Korea. Ford will own 90% of the venture, Ford Motor Co. of Korea; Kia will hold 10%. The venture will be fully operational by April of next year, Ford said. Ford said it acquired a 10% equity stake in Kia in 1986. Kia supplies Aspire mini-cars to Ford for distribution in North America and the Festiva for other markets, it said.

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