December 15, 1998 |
Ailing Samsung Motors has pulled the plug on its U.S. design studio in Huntington Beach, which will close at the end of the year. The 22 employees have vowed to stay together as a design team and hope to find a car maker or other major automotive-industry manufacturer with design needs to buy the studio and its state-of-the-art computerized equipment. Samsung Motors, which is scheduled to be acquired by Daewoo Motor Corp.
December 8, 1998 |
Samsung will swap its troubled car business for the debt-burdened electronics unit of rival Daewoo Motors as South Korea's conglomerates announced moves to shed scores of their units. Seeking to kick-start its sputtering corporate restructuring campaign, the government also said the family-run conglomerates, or chaebol, plan to raise $58 billion from investors or by selling assets. Samsung is the country's biggest electronics producer and the world's largest producer of memory chips.
April 29, 1998 |
As his bosses in Seoul struggled with bankruptcy last week, Dick Macedo was hurtling around a racetrack in Ventura, apparently worry free as he and other top brass at Kia Motors America Inc. spent a day feting automotive writers. Indeed, the South Korean auto importer's new sales and marketing chief insists that economic woes plaguing the parent company--the entire South Korean auto industry, in fact--have little impact on Irvine-based Kia's operations in the United States.
April 10, 1998 |
Undeterred by the economic problems plaguing its homeland, Daewoo Motors Inc. will begin selling cars in the United States late this summer with a slew of innovative marketing ideas and a pitch aimed at the college crowd. Tactics that could include free insurance and below-market financing plans are "the kinds of things that should get them noticed, maybe even called revolutionary," said Wes Brown, an industry analyst with Nextrend in Thousand Oaks. "They may be new to the U.S.
March 11, 1998 |
Daewoo Motor Co.'s nascent U.S. import arm has slashed by 75% the number of car dealerships it plans to open when it launches North American sales later this year, according to an industry publication. South Korea-based Daewoo also has revamped its U.S. corporate structure in a bid to improve its operating efficiency.
February 11, 1998 |
South Korean auto maker Daewoo Motor Co.'s plans for its U.S. sales launch still is shrouded in mystery--the company shuns interviews and doesn't announce its moves in advance. But insiders say the company is completely redrawing plans that once called for it to set up four separate regional operating units. Now, it is likely that a consolidated U.S.
July 20, 1997 |
The British automobile world was stunned. The upstart Asian car maker refused to play by the rules. Daewoo Motors Corp. not only ignored the established way of selling and servicing its cars through Britain's network of franchised dealers, but its advertising actually attacked the system.
April 18, 1997 |
To Zbigniew Dabek, 45, a Polish auto worker, globalization means learning not only to make Korean cars but also to eat fiery kimchi with chopsticks. He will pass on the half-cooked octopus. And his lip could not but curl when asked about the vivisected, still-wriggling fish dish. "But I like very much this kimchi," said the diplomatic Pole of the spicy pickled cabbage that is Korea's culinary passion.