Kia bankruptcy move

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Kia Motors America said it isn't affected by what was the South Korean equivalent of a bankruptcy filing by debt-ridden parent Kia Motors Corp. The parent is reorganizing with support from Korean banks. "From everything we know right now, there is no change in the operation of the company," said a spokesman at Kia's U.S. base in Irvine, Calif. "It has no immediate effect on us at all." Kia sells cars in 28 states and will enter the New York market in August.

Copyright July 1997, Crain Communications Inc.

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