SEOUL — Mando Corp. finally has been pulled closer to the world of Hyundai Motor Co., two years after Hyundai Chairman Chung Mong-koo offered to buy South Korea's second-largest automotive supplier.
Chung didn't snare Mando. His cousin did.
The acquisition will let Mando focus on moving higher up the food chain among international suppliers, after more than two uncertain years of being up for sale.
For now, Mando will grow by selling more of its existing products.
"We are still in the process of choosing our future direction in terms of product lineup," said Mando spokesman Han Hoon-chan. On Oct. 1, the 28th anniversary of the company's founding, Mando will announce its final growth plan.