SEOUL South Korea will hold out for the best price in the foreign sale of Daewoo Motor, Hyundai Investment Trust and Seoulbank, AFP quoted Economy and Finance Minister Jin Nyum as saying.

The three companies have become symbols of the bankrupt corporate culture that the government has vowed to change. The sale of each has been repeatedly delayed, however, by haggling over prices and concerns about the extent of their debts.

But Jin said "The government will not sell these companies in haste, even though talks might be delayed."

The sale of Daewoo Motor Co., South Korea's second largest carmaker, to General Motors Corp. of the United States is the most pressing.

Jin declined to discuss details of Daewoo Motor talks, but he said: "Creditors will review the price and business plans in a package."