SEOUL, Apr. 16 (Korea Bizwire) — GM Korea Co. and Renault Samsung Motors Corp., the South Korean units of U.S. and French auto giants, respectively, are mired in a dispute that is fueling concerns over the broader South Korean auto industry this year. In recent years, the two carmakers, affiliates of General Motors Co. and [...]
SEOUL, Mar. 29 (Korea Bizwire) — General Motors Co. on Friday signed an initial deal with auto parts makers to sell off its shuttered plant in Gunsan, the U.S. automaker’s South Korean unit said. GM signed an initial agreement with a consortium, including Hyundai Autotech Co., to hand over the four-assembly-line factory in the industrial [...]
SEOUL, Mar. 26 (Korea Bizwire) — General Motors Co. will open its Asia-Pacific regional headquarters in South Korea this week in a move to show its commitment to the local market, the carmaker said Tuesday. The Asia-Pacific regional headquarters will be responsible for managing production, sales, marketing and finances for GM operations in the Asia-Pacific [...]
SEOUL, Feb. 1 (Korea Bizwire) — Vehicle sales of South Korea’s five carmakers fell 5.5 percent last month from a year earlier on weak overseas demand, corporate data showed Friday. The five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — sold a combined [...]
SEOUL, Dec. 18 (Korea Bizwire) – The state-run Korea Development Bank (KDB) said Tuesday it supports GM Korea Co.’s plan to spin off its research unit, marking a reversal from the lender’s opposition to the controversial scheme that is also strongly opposed by the carmaker’s labor union. Lee Dong-gull, governor of the KDB, told reporters [...]
SEOUL, Nov. 28 (Korea Bizwire) — A Seoul court on Wednesday ruled against GM Korea Co.’s proposal to establish a separate R&D company in a setback for parent firm General Motors Co.’s broad reorganization plan for its global operations. Last month, the state-run Korea Development Bank (KDB), the second-biggest shareholder in GM Korea after GM, [...]
SEOUL, Nov. 12 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., on Monday refused to meet with its union to narrow their differences over its decision to build a separate research and development (R&D) company, which the workers see as an initial move by the carmaker to scale down [...]
SEOUL, Oct. 29 (Korea Bizwire) — GM Korea Co.’s decision to build a separate R&D corporation will strengthen General Motors Co.’s long-term ties with South Korea, GM Chief Executive Mary Barra said Monday. The GM Korea union recently sent a letter to the GM CEO demanding a meeting to clear up speculation around GM’s commitment [...]
SEOUL, Oct. 19 (Korea Bizwire) — Shareholders in GM Korea Co. on Friday approved the company’s plan to establish a separate R&D unit amid opposition from the union, which sees the separate unit as a move to scale down local operations over the long term, the company and the union said Friday. General Motors Co. [...]
SEOUL, Oct. 16 (Korea Bizwire) — Unionized workers at GM Korea Co. voted Tuesday to go on strike to protest the carmaker’s plan to establish a separate R&D corporation. In the two day vote that began Monday, 78 percent of the 10,234-member GM Korea union agreed to a walkout as a sign of opposition to [...]