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. Last Updated: 07/27/2016

Hyundai Eyes Poland




SEOUL, South Korea -- South Korea's Hyundai Motor Co. is interested in taking over the Poland operation of ailing Daewoo Motor Co. Ltd., Hyundai said Sunday.


"Hyundai Motor has an intention to take over Daewoo's Polish plant,'' the carmaker said in a statement, adding Korean carmakers need auto plants in Europe, the nation's largest vehicle market.


The move came only days after General Motors Corp. confirmed that it wants to take over Daewoo Motor.


Hyundai, South Korea's largest carmaker, also said it opposes the American automaker's takeover of Daewoo, South Korea's second largest carmaker.


"It's not time for South Korea to give the managerial rights of its auto industry to a foreign company. ... GM's takeover of Daewoo could ruin the South Korean auto industry,'' it said.