GM`s failure in takeover to trigger Daewoo-FSO closure: MOCIE

If General Motors (GM) decides not to take over Daewoo Motor, the government will seek ways to keep the company alive independently by liquidating foreign operations such as those in Poland and Indonesia, Commerce, Industry and Energy Minister Shin Kook-Hwan said Thursday. ``The government believes that Daewoo Motor will surely be sold off to General Motors,`` he said. ``Otherwise, the government will reshuffle the automaker`s overall production systems and adopt new strategies to keep the company afloat, such as alliances with domestic and foreign companies. In that case, I believe the company will have enough competitiveness.``

On a proposal by U.S. consulting firm Arthur Andersen to close Daewoo`s Pupyong plant, he said, ``It would be better to keep it in operation for four to five years as it has core facilities such as an engine plant.``

Yonhap