SOUTH KOREA: Mando plans big move into China
The Korea Herald reports that Mando Corporation, Korea's largest automotive components maker, has said that it will invest a total of $US110 million in China by 2007. The investment by Mando is being seen as a key part of its bid to strengthen its global management. "The Chinese auto market is expected to outgrow the U.S. market in the near future. From that perspective, Mando will heavily invest in China, setting up 10 or more joint venture and wholly owned auto parts makers in the country by 2004," said Oh Sang-soo, president and CEO of Mando, in a press conference in remarks reported by the Korea Herald.
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