SOUTH KOREA: Hats off! YoungAn signs MOU to buy Daewoo bus plants
The Korea Herald reports that Daewoo Motor has signed a preliminary agreement to sell its bus manufacturing operations for 140 billion won ($116 million) to YoungAn Hat Co., the world's largest headwear maker based in Korea. The report says that Daewoo Motor Chairman Lee Jong-dae and YoungAn Hat Chairman Paek Sung-hak have signed a memorandum of understanding on the hat maker's acquisition of Daewoo's two bus plants in Korea and China during a signing ceremony at Daewoo headquarters in Seoul.
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