SEOUL, Feb. 20 (Korea Bizwire) — Securing meaningful production volume of a new vehicle model will be a critical factor in GM Korea Co.’s continuing presence in South Korea, industry sources said Tuesday. Last week, the local carmaker’s parent, General Motors Co., announced it will shut down its underutilized plant in Gunsan, one of the [...]
SEOUL, Feb. 19 (Korea Bizwire) — The current situation pertaining to GM Korea is reminding auto industry veterans of the struggles of SsangYong Motor a decade ago, except a similar result this time around promises to wreak greater harm on the national economy. Once briefly owned by Daewoo Motors, SsangYong Motor was put on the [...]
SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s general public and industry experts are divided over how to handle the unfolding crisis at GM Korea Co., which announced plans to close one of its four car assembly lines in the country, observers here said Sunday. The differing views comes as the South Korean unit of [...]
WASHINGTON, Feb. 14 (Korea Bizwire) — U.S. President Donald Trump on Tuesday hailed General Motors Co.’s decision to shut down a plant in South Korea, saying the carmaker will now “move back” to Detroit. GM announced the same day that it will close one of its four car assembly plants in South Korea by the [...]
SEOUL, Feb. 14 (Korea Bizwire) — GM Korea Co. management and its union gave very different reasons for the move to close down a vehicle production plant here, signaling future clashes to come. On Tuesday, the South Korean unit of General Motors Co., said it will shut down one of its four plants in South [...]
SEOUL, Feb. 13 (Korea Bizwire) – GM Korea’s decision to close one of its manufacturing plants is expected to undercut the South Korean automobile industry’s competitiveness on the world stage. Reports that General Motors will shutter its Gunsan facility – one of its four car assembly plants in South Korea – over low demand come [...]
SEOUL, Feb. 13 (Korea Bizwire) — General Motors Co. will shut down one of its four car assembly plants in South Korea by the end of May due to lower demand for its vehicles, the local unit of the U.S. carmaker said Tuesday. The plant to be closed is in Gunsan, 270 kilometers south of [...]
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 [...]