SEOUL, June 20 (Korea Bizwire) — South Korean units of three foreign carmakers are finally pivoting to a more electric future in the face of toughening competition with their Korean rivals and luxury German brands as a way to survive in the changing business environment. The Korean units of three foreign carmakers — GM Korea [...]
SEOUL, April 15 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will suspend two of its three plants next week due to a lack of semiconductors parts. GM Korea will halt the No. 1 and No. 2 plants in Incheon, 40 kilometers west of Seoul, from [...]
SEOUL, Feb. 5 (Korea Bizwire) — Management crises are sweeping over South Korean units of foreign automakers. Financially-troubled SsangYong Motor Co. stalled operation of its plant in Pyeongtaek, 70 kilometers south of Seoul, last Wednesday after several subcontractors refused to supply essential parts and demanded payment. The South Korean unit of Indian carmaker Mahindra & [...]
SEOUL, Feb. 4 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Thursday it will cut vehicle production by half at one of its three plants from next week due to a lack of semiconductor chips. GM Korea’s planned output reduction is in line with U.S. parent GM’s decision [...]
SEOUL, Dec. 18 (Korea Bizwire) — Unionized workers at GM Korea Co. agreed Friday to accept the company’s revised wage proposals amid the prolonged COVID-19 pandemic. GM Korea workers voted in favor of the second tentative wage and collective agreement deal in a two-day vote that ended on Friday. The workers rejected the first tentative [...]
SEOUL, Dec. 11 (Korea Bizwire) — GM Korea Co. and its union have reached a second tentative wage deal after union members rejected the first deal early this month, the company said Friday. In a vote held from Nov. 30 to Dec. 1, GM Korea workers turned down the first tentative wage agreement as they [...]
SEOUL, Dec. 1 (Korea Bizwire) — Unionized workers at GM Korea Co., the South Korean unit of General Motors Co., voted down a tentative wage deal for the year amid the COVID-19 pandemic, the company said Tuesday. In a vote held from Monday to Tuesday, 54 percent of 7,364 union workers rejected the tentative deal, [...]
SEOUL, Nov. 25 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Wednesday it has reached a tentative wage deal for the year to focus on production amid the COVID-19 pandemic. Under the tentative agreement, GM Korea will provide 4 million won (US$3,600) per union worker in performance-based pay [...]
SEOUL, Nov. 19 (Korea Bizwire) — An executive of General Motors Co., the parent company of GM Korea Co., said it could withdraw from South Korea if workers at the Korean unit continue to go on strike for wage hikes amid the COVID-19 pandemic, a news report said Thursday. GM Korea workers have been staging [...]
SEOUL, Nov. 6 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Friday it will reconsider investing in its main plant as its union continues to strike for higher wages. GM Korea will “reconsider making an investment in the company’s No. 2 Bupyeong plant for the production of a next-generation [...]