GM, Chrysler to skip Seoul Motor Show

SEOUL, Feb. 2 (Yonhap) -- Troubled U.S. carmakers General Motors Corp. and
Chrysler LLC won't be showing off their vehicles at this year's Seoul Motor Show
amid a worsening industry crisis and a tightening of company budgets, event
organizers said Monday.

GM and Chrysler, along with 11 other foreign brands, did not register for the
biennial event in April, the biggest auto fair in South Korea, said an official
at the Organizing Committee for the Seoul Motor Show.
"The number of exhibitors fell by roughly 10 percent from the last gathering in
2007," the official said.
Among those who will skip the event are BMW AG, Nissan and Volvo, according to
the official.
The U.S. government provided billions of dollars in federal loans to GM and
Chrysler to help them stay afloat as the automakers struggle with the worst
economic crisis since the Great Depression of the 1930s.
Officials at Korean units of both GM and Chrysler weren't immediately available
for comment.
Five automakers in South Korea, including Hyundai Motor Co. and its affiliate Kia
Motors Corp., will attend the April event, the organizing committee said.
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