Daewoo International inks $400 mil. auto parts supply deal

By Park Si-soo

Daewoo International, Korea’s biggest trading agency, signed a $400 million auto parts supply deal with the General Motor’s affiliate in Uzbekistan, the company said Sunday.

Under the deal, Daewoo will supply auto parts produced by GM Korea to GM Uzbekistan. The trading company established business ties last year under which it has exported auto parts worth $163 million to GM Uzbekistan.

Parts exported by Daewoo will be used to produce eight models, including Captiva, Orlando, Nexia, Cobalt and Laceti, which are available in Uzbekistan and other countries in that region.

“We expect this deal will give us new business opportunities in Uzbekistan and the surrounding areas,” a Daewoo official said.