China’s Geely to Buy Major Stake in Renault Korea

Chosun Ilbo | May 11, 2022 at 2:59 PM
  • China’s Geely, which owns Volvo, will buy a 34-percent stake in Renault Korea for W264 billion (US$1=W1,276).
  • The troubled Korean automaker changed its name from Renault Samsung in March to make a fresh start.
  • This is the second time a Chinese automaker has bought into a Korean carmaker since Shanghai Automotive Industry Corp. bought Ssangyong in 2006.