Daewoo draws global players

Daewoo draws global players

SEOUL (AFP): South Korea's much-touted bid to auction off the ailing Daewoo Motor Co. is sparking keen interest among global players, a top economic official said Sunday.

"General Motors of the United States, Volkswagen of Germany, Fiat of Italy and Hyundai Motor Co. of South Korea are now interested in Daewoo Motor," Finance and Economy Minister Lee Hun-Jai told a local television talk show.

He said the government would try to sell Daewoo Motor to a bidder willing to help South Korea maintain its current car production.

General Motors Corp., the world's largest carmaker, has been tipped as the strongest candidate to acquire Daewoo Motor, followed by U.S. rival Ford Motor Co.