Word: daewoo
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...discounting the South Koreans. In the past few years, several Korean companies, including Samsung, Goldstar and Daewoo, have successfully invaded America with television sets, videocassette recorders and even personal computers. Because wages are generally lower in South Korea than they are in either the U.S. or Japan, Korean products often sell for 25% less than their competition's. By offering attractive items at very low prices, the South Koreans may become the new Japanese. Says one Tokyo businessman: "Sometimes we see our spitting image in the Koreans, and we're downright afraid...
...Daewoo's IBM-compatible personal computer, known as Leading Edge Model D, has been selling well since it was introduced last year. At $1,495, it costs about 45% less than an IBM PC. Says David McDonough, co-owner of five Computerland outlets in San Diego: "It doesn't bother the customers where the computer comes from. It's price and performance that counts...
Hyundai is only the first of several Korean companies that are eyeing the American market. Daewoo, a firm that is 50% owned by General Motors, hopes to be selling 80,000 cars in the U.S. in 1987. Kia, a Korean conglomerate, could link up with Ford, and Chrysler has held talks with Samsung, another firm with designs on the U.S. market. Maryann Keller, an auto-industry expert with Vilas-Fischer Assoc. in New York City, predicts that imports from such countries as South Korea, Taiwan, Mexico and Brazil will one day control the important U.S. market...
...company to build a car in the U.S., sell it for less than $7,000 and make a decent profit. GM imports some subcompact models for sale in the U.S. from Japan's Suzuki and Isuzu, and it has plans to bring in more from its South Korean partner, Daewoo. GM is also manufacturing small cars in a venture with Toyota in Fremont, Calif...