SEOUL, Oct. 10 (Korea Bizwire) — General Motors Co. is set to violate an initial agreement signed between the carmaker’s South Korean unit and the South Korean government by attempting to establish a separate R&D corporation, a lawmaker said Wednesday. In his policy review submitted as part of a parliamentary audit, Jung You-sub, a representative [...]
SEOUL, Oct. 5 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Friday it will seek approval from shareholders on a plan to spin off its design and engineering divisions into a separate R&D-focused corporation. On Thursday, GM Korea’s board of directors agreed to integrate a design center, a [...]
SEOUL, Oct. 1 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Monday its September sales dropped 14 percent from a year earlier due to lower demand. GM Korea sold 34,816 vehicles last month, down from 40,264 units a year earlier, as local and overseas demand weakened, the company [...]
SEOUL, Sept. 16 (Korea Bizwire) — GM Korea Co. is seeking to establish a new entity for global research and development, which the carmaker’s labor union is strongly opposing, claiming it is a move to shut down its assembly lines here, industry sources said Sunday. According to the sources, the South Korean unit of General [...]
SEOUL, Jul. 20 (Korea Bizwire) — General Motors Co. will invest US$50 million (57 billion won) to expand its main plant in South Korea as it strives to put its loss-making Korean unit back on track, GM Korea Co. said Friday. GM, which owns a 77 percent stake in GM Korea, will make the investment [...]
BUSAN, Jun. 6 (Korea Bizwire) — GM Korea Co., the South Korean unit of General Motors Co., said Wednesday it will launch two Chevrolet sport utility vehicles in the domestic market to revive its lackluster sales. “The Equinox (midsize SUV) will go on sale in the Korean market on Thursday. The Traverse (large-size SUV) will [...]
SEOUL, May 31 (Korea Bizwire) — General Motors Co., the parent company of GM Korea Co., on Thursday shut down one of its plants in South Korea as it moves to restructure its operations at home and abroad. The 260,000-unit-a-year plant in Gunsan, about 270 kilometers southeast of Seoul, was hit hard by GM’s decision [...]
SEOUL, May 15 (Korea Bizwire) — GM’s Chevrolet announced the launch of its “Never Give Up” campaign yesterday. Starting this month, a single car will be donated for every 1,000 vehicles sold as part of the campaign. Barry Engle (president of GM International), Kaher Kazem (president and CEO of GM Korea), Yoo Jeong-bok (mayor of [...]
SEOUL, May 13 (Korea Bizwire) — GM Korea Co. aims to return to profit next year as the South Korean unit of General Motors Co. expects investment in new vehicles and reduced debts will help improve its financial status, the company said Saturday. In the four years through 2017, GM Korea posted more than 3.134 [...]
INCHEON, May 3 (Korea Bizwire) — Temporary employees at GM Korea were not included in the negotiation process between GM Korea and its labor union concerning wages. Nor were they included in the talks between GM Korea and the government on a recapitalization deal. The new deals for GM Korea did not leave the some-2,000 [...]