SEOUL, Feb. 12 (Korea Bizwire) – South Korean authorities may look into the accounting records of the local unit of General Motors Co. amid speculation that it has been involved in unfair practices, industry sources said Sunday. A possible inspection into GM Korea’s financial records has been raised amid rumors that the Detroit-based carmaker may [...]
SEOUL, Feb. 9 (Korea Bizwire) — Mired in a sales slump, GM Korea is seeking government aid in a last-minute effort to save its car manufacturing business in South Korea, the Ministry of Strategy and Finance has confirmed. GM International head Barry Engle has been in touch with high ranking South Korean government officials to [...]
SEOUL, Feb. 1 (Korea Bizwire) – South Korea’s five carmakers said Thursday their combined sales rose 0.4 percent last month from a year earlier, helped by new models and a base effect. The five automakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold a combined 613,796 vehicles in January, up from [...]
SEOUL, Jan. 15 (Korea Bizwire) – General Motors Co. said Monday it has allotted 5,000 Chevrolet Bolt electric vehicles for South Korean consumers this year as the company moves to take the lead in the local electric car market. The upgraded Chevrolet Bolt EV can travel 383 kilometers on one charge of a 60 kilowatt-per-hour [...]
SEOUL, Dec. 1 (Korea Bizwire) – The first face-to-face between GM Korea’s labor union and management to negotiate wages since July wrapped up after only half an hour, as both sides used the meeting to hear the other’s key demands. Both GM Korea and other auto industry sources confirmed that on November 30, discussions over [...]
SEOUL, Nov. 30 (Korea Bizwire) – GM Korea Co. chief Kaher Kazem vowed Thursday to make every effort to turn the company around, saying its losses over the past two years are not acceptable. In a meeting with Seoul-based journalists, GM Korea Chief Executive Kaher Kazem said the carmaker posted a whopping 2 trillion won (US$1.8 billion) in total losses for the three years through 2016. Kazem [...]
SEOUL, Nov. 10 (Korea Bizwire) – The South Korean government will have another issue to discuss in the next round of FTA negotiations with the United States after a recall of imported Chevrolet Impalas has been delayed in adherence to a clause in the trade pact. The clause in question stipulates that a business can [...]
SEOUL, Nov. 9 (Korea Bizwire) — Despite massive recalls of Takata airbags that have been labeled as ‘dangerous’ in other countries, a number of foreign automobile manufacturers are refusing the South Korean government’s request to follow suit. According to the Ministry of Land, Infrastructure and Transport on Tuesday, 14 out of 17 car manufacturers in South [...]
SEOUL, Nov. 6 (Korea Bizwire) — A lack of new models this year is adversely affecting car sales by GM Korea Co. and Renault Samsung Motors Co. in the South Korean market, industry observers said Sunday. The drop in demand is making it unlikely that the two carmakers will meet their respective sales targets for [...]
SEOUL, Oct. 25 (Korea Bizwire) – Automakers Renault Samsung and GM Korea found themselves on opposite ends of the spectrum in a listing of manufacturing plants with the highest productivity, per the ’2016 Harbour Report’, derived by utilizing HPU figures (Hours Per Unit) provided by global consulting firm Oliver Wyman. Renault Samsung’s Busan-based manufacturing plant [...]