SOUTH KOREA: Renault-Samsung in black at last
Yonhap News Agency reported that Renault-Samsung Motors said Tuesday its profits amounted to 166 billion won ($US135 million) last year on sales of 1.77 trillion won ($1.43 billion), closing its books in the black for the first time since the launch of its operations. The automaker's president Jerome Stoll said the company plans to unveil a luxury sedan and a sport-utility vehicle between 2004-2005, and it will spend 120 billion won on expanding facilities this year. He said he could not ruled out the possibility that the automaker's second plant will be built not in the country but overseas during 2005-2006 in consideration of exports and operating costs.
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