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 [...]
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 [...]