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GM takes control of Daewoo
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| Workers at Daewoo's Pupyong plant in Inchon, south Korea, protest temporary shutdown. General Motors announced September 21 that it would take over controlling interest of the bankrupt automaker for a bargain basement price of $400 million. The deal allowed GM to gobble up 2 percent of world market share. The new "restructured" company will own the two newest Daewoo plants in south Korea, but not the plant in Inchon--the scene of many protests by auto workers. |