SOUTH KOREA
Times Staff and Wire Reports
Samsung to Form Auto Division: South Korea’s largest conglomerate said it has formed a subsidiary to make cars. The $120-million investment to start up Samsung Motors Inc. will come from three sister firms, Samsung Electro-Mechanics, Samsung Display Devices and Joong-Ang Development Co. Ltd., the company said. Samsung Motors is expected to build about 60,000 cars a year starting in 1998, and increase production to 500,000 by 2001.
