It is expected that employment levels in Korea will be maintained at current levels. Other facilities, subsidiaries, ventures, debts and liabilities not included as part of the definitive agreements will be the responsibility of the existing Daewoo Motor Company. GM, Daewoo Motor Company and the Daewoo Motor Creditors Committee began formal negotiations in May 2001 following more than six months of evaluation and business plan development. The three sides signed a non-binding memorandum of understanding in September outlining the framework for the negotiation of a definitive agreement. 
