Daewoo will this month announce plans to revive its Polish car factory Daewoo FSO, according to reports.

The plant which once built FSO Polonez cars mainly for Eastern European markets is the biggest of 11 overseas plants excluded from GM's asset purchase deal with Daewoo and its creditors this week.

Daewoo Motor president Lee Young-kook reportedly said that Daewoo would keep its stake in the Polish factory and would announce plans to keep it operating later this month.

The factory can build 272,000 cars a year.