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Daewoo Motor Co

BUSINESS
December 23, 1999 | From Bloomberg News
Ford Motor Co. said on Wednesday that it is interested in buying Daewoo Motor Co., prompting the South Korean government to solicit bids for its No. 2 auto maker rather than negotiate exclusively with General Motors Corp. Ford will send its top Asia executive, Paul Drenkow, back to Seoul to talk with holders of Daewoo Motor's bonds and loans in early January, a month after he began talks with the creditors. Daewoo has more than $16 billion in debt.
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BUSINESS
February 2, 1999 | JOHN O'DELL, TIMES STAFF WRITER
Daewoo Motor America said Monday that it plans to become the first auto maker to sell its cars in California direct to consumers via the Internet. Daewoo's program marks a further erosion in the traditional method of selling cars and has heightened fears among some dealers that car makers are looking for ways to cut them out of the loop.
BUSINESS
December 30, 1998 | John O'Dell
Daewoo Motor Co. officials said at a media preview of the Greater Los Angeles Auto Show that the South Korean car maker sold 2,400 cars in its first four months in the United States and intends to begin television advertising next year in an effort to crack the market. "The word-of-mouth is a little slower than we'd expected," said Bill Tucker, vice president of U.S. marketing for the Compton-based importer.
BUSINESS
December 15, 1998 | JOHN O'DELL, TIMES STAFF WRITER
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.
BUSINESS
December 15, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Upstart Daewoo Motor Corp.'s ballyhooed plan to attack the American auto market without a conventional system of franchised dealers might be backfiring. In its first three months of U.S. retailing, the South Korean auto maker has sold 1,750 cars, but only 700 were bought by members of the public, according to preliminary sales figures obtained by a respected industry trade journal.
BUSINESS
December 8, 1998 | Reuters
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.
BUSINESS
September 29, 1998
Korean auto maker Daewoo made its official foray into the U.S. auto market Monday with the opening of 15 company-owned stores, including one in Van Nuys. Like the other Daewoo stores, located in nine states, the Van Nuys branch will follow the company philosophy of marketing primarily to college students. The showroom, at 6001 Van Nuys Blvd., is within a few miles of Valley College, Pierce College and Cal State Northridge. Daewoo Motor Co.
BUSINESS
April 29, 1998 | JOHN O'DELL, TIMES STAFF WRITER
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.
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