UPDATE 2-Renault to spend $570 mln to make S.Korea Asia hub

Newswire

(Recasts, adds chairman's quotes, analyst, details) By Kim Kyoung-wha SEOUL, Nov 30 (Reuters) - French carmaker Renault said on Tuesday it would spend more than $570 million in South Korea over the next three years to build a regional hub that will help drive its expansion into the hotly contested China car market. Louis Schweitzer, the chairman of Renault SA , made the comments while in Seoul to celebrate the launch of Renault Samsung Motors Inc.'s first large sedan, the SM7. "We ...

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