SEOUL, Oct. 12 (Korea Bizwire) – GM Korea Co.’s net losses are set to deepen this year as its domestic sales have fallen sharply due to a lack of new models and lack of progress in labor-management talks over wages, industry sources said Thursday. The South Korean unit of General Motors Co. posted hefty net [...]
SEOUL, Sept. 14 (Korea Bizwire) – As speculation continues to grow over the possible withdrawal of General Motors from South Korea, attempts to come to an agreement on wages abruptly ended with little to no progress on Wednesday, putting the company’s future into uncharted waters. The 19th wage bargaining talks between GM Korea’s management and the [...]
SEOUL, Sept. 7 (Korea Bizwire) — GM Korea President Kaher Kazem addressed concerns regarding a possible pullout from South Korea at the company’s headquarters in the Bupyeong District of Incheon on September 6. As part of the face-to-face with the media, reporters were given access to the normally off-limits Design Center where they got a [...]
SEOUL, Aug. 25 (Korea Bizwire) — Cadillac has announced the opening of Cadillac House Seoul, an experience center in the South Korean capital where visitors can try out and enjoy the culture and products of the renowned American car maker. According to GM Korea, the new experience zone opened Thursday at Interwired Studio in Gangnam [...]
SEOUL, Aug. 17 (Korea Bizwire) — General Motors Co. has named a productivity expert as chief of GM Korea Co. as the South Korean unit continues to struggle with declining sales, the Korean unit said Thursday. Kaher Kazem, president and managing director of GM India, will take the helm at GM Korea from Sept. 1. [...]
SEOUL, Aug. 11 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., on Friday introduced the 2018 edition of its Chevrolet Malibu sedan, which includes a model with an environment-friendly certificate. The company said it started receiving preorders for the refreshed Malibu midsize sedans. GM Korea said a model with [...]
SEOUL, Jul. 7 (Korea Bizwire) — When it rains, it pours, as labor disputes are putting increased pressure on the automobile manufacturing and shipbuilding industries already sagging underneath the weight of slowing sales. The industry giants currently involved in labor negotiations include Hyundai Motor, Kia Motors and GM Korea, while Hyundai Heavy Industries, the world’s largest [...]
SEOUL, July 6 (Korea Bizwire) – Unionized workers at GM Korea Co., the South Korean unit of General Motors Co., said they will vote on whether to go on strike to press contract demands, corporate sources said Thursday as the company struggles with three straight years of losses. The carmaker’s 15,000-strong union arranged a walkout [...]
SEOUL, May 10 (Korea Bizwire) – Sales of midsize hybrid cars were halved in the first four months of this year, mainly due to existing vehicle models becoming dated and the popularity of new non-hybrid vehicles, market watchers said Sunday. Data provided by carmakers showed sales of the Sonata, K5 and Malibu hit 2,268 units at the end of April, down a sharp 49.7 percent from [...]
SEOUL, South Korea, March 22 (Korea Bizwire) – South Korean TV shopping network Lotte Home Shopping recently experienced firsthand the surge in the popularity of electric cars when it aired a special program last Friday featuring electric cars for lease. During the hour-long broadcast, the network saw more than five thousand customers call in to [...]