YANTAI — The financial woes of South Korea's Daewoo Motor Co. Ltd.'s parent company, Daewoo Group, are taking their toll on the automaker's venture in Yantai. Reports say Daewoo's joint venture, a car engine plant, is almost nonfunctional. Daewoo holds 50% of a RMB5.69 billion (US$687 million) project in FAW-Daewoo Automotive Engine, a joint venture with First Automotive Works (FAW) of Changchun, which holds a 25.5% share, and Shangdong Auto Industry Corp., which holds the remaining 24.5%. ...
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