South Korea’s largest automotive parts maker, Mando Co., will enter the fast-growing Chinese market with a $US160 million investment plan, Reuters said, citing the Maeil Business Newspaper.

The report quoted Mando’s president, Oh Sang-soo, as saying during a visit to China that the unlisted company will form 10 automotive parts joint ventures with local partners by 2007, aiming to achieve $US1 billion in annual sales in China by 2010.