The Mahindra Group is open to more acquisitions in South Korea after snapping up sick car-maker Ssangyong Motor Co in March as it is keen to deepen its engagement in the market. Yes,(if) there is an opportunity to further explore investments. more acquisition opportunities in Korea,particularly in implements,farm equipment and technology,yes,we will definitely look at, Group Vice-Chairman and Managing Director Anand Mahindra told reporters here when asked whether his group is looking at more assets in Korea. Currently,we are sourcing tractors from Tongyang of Korea and Mitsubishi of Japan and selling them in US markets under the M&M band. I would like to deepen this relationship by increasing the volume intake, he added. Mahindra,who has just been appointed by the Korean government as an honorary ambassador,was talking to reporters on the sidelines of a meet on Indo-Korea bilateral cooperation. As far as the companies from which we already import are concerned,we are deepening our relationship,hopefully using our brand and deepening their market share in the US, he said. The Mahindras had completed the acquisition of sick SsangYong Motor Co for about Rs 2,105 crore in March,marking the groups first foray into a Far Eastern country. For M&M,which had lost the bid to buy JLR in 2008 to the Tatas,the SsangYong buyout was a big step toward realising its ambition to be a global player in the utility and sports utility vehicles segment. When asked whether M&M would be showcasing the SUVs from SsangYong at the forthcoming Auto Expo in the Capital.
