Is Hyundai the latest to succumb to merger fever?

Well here's a merger candidate coming out of left field lane . Hyundai Motors, still reeling from the imprisonment of its CEO Chung Mong-Koo (who has since been released) and on-going union strikes, could be looking for a partner. Apparently the possibility of a GM and Renault/Nissan alliance, plus Toyota's relentless march towards world's number one automaker status, is putting a serious crimp in the Korean automaker's plans to be number 5 by 2010. A Hyundai spokesperson states the company will take "comprehensive countermeasures" after performing its own research on the impact of a GM/Renault/Nissan alliance.
Mitsubishi Motors is considered by analysts the most likely partner for Hyundai. In 2000, Hyundai and DaimlerChrysler explored a possible relationship developing new cars together, but the plan was dropped as neither side found profitability in it.

[Source: Korea Times]