The Korea Herald reports that GM Korea and Daewoo Motor Sales Corp. have now signed a deal for bilateral cooperation in the sales and after-sales services of GM vehicles in Korea.

GM Korea said that it has selected Daewoo Motor Sales, a domestic marketing arm for Daewoo Motor, as its new Korean dealer. A formal contract was signed over the weekend.

Under the new deal, Daewoo Motor Sales will sell GM’s premium vehicles, such as Cadillac and Saab, and take over the management of GM Korea showrooms in Seoul and other provincial cities.

The newspaper adds that Daewoo Motor Sales aims to sell 120 GM cars this year and set the 2003 target at 1,700 to 2,000 units.

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