Ford Will Send Team to ROK to Look at Daewoo Motor
Ford Motor Co. said Monday it will send a team to South Korea in January to investigate a purchase of the ailing Daewoo Motor Co.
``We are still interested in Daewoo,'' said Ford spokesman Jim Bright. ``We are planning to meet with some people in Korea about Daewoo early next year.''
While Ford has expressed an interest in Daewoo in the past, rival General Motors Corp. has already made a preliminary proposal to buy the automaker's Korean operations as well as plants in other countries.
Daewoo is seen as an attractive target by automakers looking for a larger foothold in the Asian market. Ford already owns a third of Japanese automaker Mazda, and was outbid for Korean automaker Kia Motors Corp. by Hyundai Motors Corp. in 1998.
``I think the whole world recognizes that the growth that's going to occur in the industry is going to occur outside North America and Europe,'' Bright said. ``Most of that growth we see on the horizon is likely to be in the Asia and the Asian-Pacific region. …