that want to maintain the industrial status quo, will likely stave off a bid by its creditors to have Kia sell off its automaking flagship to a third party, analysts said yesterday.

They said the group would benefit from intensive manoeuvring by the country's top conglomerates, or chaebol, to prevent Kia Motors Corp ending up in the hands of their rivals and from political pressures ahead of presidential elections in December.

Some economists have said a third-party takeover of Kia Motors could speed up the restructuring of the nation's automobile industry, which faces the threat of overcapacity.

Kia cars are sold in Bermuda by Executive Motors, which is operated by the Edmund Gibbons Ltd. group of companies.

"What ought to be done logically is one thing, and what is going to happen is another,'' said Chang Choong-rynn, a car industry analyst at Daewoo Securities.

"There are many obstacles for a third-party takeover,'' said Lee Hahn-koo, president of the Daewoo Research Institute. "Other conglomerates are strongly opposed to a change in the status quo in the industry and the ranking of chaebols.'' Kia has maintained a tough stance against creditors, wielding a warning by top conglomerates that the acquisition of the third-largest carmaker in South Korea by one of their rivals could threaten their position and power.

Kia recorded annual sales of 6.61 trillion won ($7.4 billion) in calendar 1996, up from 5.69 trillion in 1995.