GM Daewoo Predicts 2010 Profit

General Motors Co.’s South Korean GM Daewoo Auto & Technology Co. says it won’t need additional support from creditors because it expects to return to profitability this year after a loss of an undisclosed size in 2009.

GM Daewoo CEO Mike Arcamone tells reporters the company aims to boost domestic sales 20% to 137,800 units with new models and fresh marketing. It expects to hike exports 13% to 1.6 million units.

Arcamone says GM Daewoo’s liquidity is “solid.” GM injected $416 million in October by buying share rights after the state-run Korea Development Bank refused to grant the company an $863 million loan.