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Daewoo Motor America Cancels Participation In L.A. Auto Show

12 December 1997

Daewoo Motor America Cancels Participation In L.A. Auto Show

    LOS ANGELES, Dec. 11 -- Daewoo Motor America today announced
that it will not participate in the 1998 Greater Los Angeles Auto Show,
Jan. 2-11, at the Los Angeles Convention Center.  Although this was to be the
first official unveiling of the U.S. versions of the Lanos, Nubira and Leganza
models, officials cited that it was too soon to showcase the cars.
    "Breaking into the U.S. auto market will be a major milestone for Daewoo
in 1998.  Daewoo Motor America is on track to launch next year," said Y.T.
Song, president of Daewoo Motor America (West).
    Daewoo Motor's most recent successful launch was in Great Britain, where
sales and popularity of the cars have exceeded even auto analysts'
expectations.  "We have achieved remarkable success in England and throughout
Western Europe.  We intend to carry that momentum in the U.S.," said Song.
    Daewoo Motor America is part of the Daewoo Corporation, a highly
diversified manufacturing and service company, based in Seoul, Korea.  With
more than $67 billion in sales, Daewoo Corporation was ranked as the 24th
largest company worldwide by Fortune magazine.  In addition to cars, Daewoo
Corporation is involved in numerous industries including heavy machinery,
light machinery, ship building, robotics, telecommunications, electronic
products, financial services, and others.  Daewoo employs over 110,000 people
internationally.

SOURCE  Daewoo Motor America