SEOUL, April 5 (Korea Bizwire) – The head of GM Korea Co., the South Korean unit of General Motors Co., said on Thursday the company now faces a cash crisis and cannot pay bonuses as agreed upon in the 2017 wage agreement. In a message sent to employees, GM Korea President and Chief Executive Kaher [...]
SEOUL, March 29 (Korea Bizwire) – The chief executive officer of GM Korea Co. has called on its labor union to conclude ongoing wage negotiations by the end of March to help turn around the ailing carmaker, industry sources said Thursday. GM Korea and its labor union have made little progress in the wage talks deemed crucial to the [...]
SEOUL, Nov. 30 (Korea Bizwire) – GM Korea Co. chief Kaher Kazem vowed Thursday to make every effort to turn the company around, saying its losses over the past two years are not acceptable. In a meeting with Seoul-based journalists, GM Korea Chief Executive Kaher Kazem said the carmaker posted a whopping 2 trillion won (US$1.8 billion) in total losses for the three years through 2016. Kazem [...]
SEOUL, Oct. 23 (Korea Bizwire) – The head of General Motors Co.’s South Korean operations, speaking during a parliamentary audit session Monday, didn’t deny speculation that the U.S. carmaker may withdraw from South Korea on weaker sales. At the audit, GM Korea President and Chief Executive Kaher Kazem repeatedly said he will do his best [...]
SEOUL, Sept. 14 (Korea Bizwire) – As speculation continues to grow over the possible withdrawal of General Motors from South Korea, attempts to come to an agreement on wages abruptly ended with little to no progress on Wednesday, putting the company’s future into uncharted waters. The 19th wage bargaining talks between GM Korea’s management and the [...]
SEOUL, Sept. 7 (Korea Bizwire) — GM Korea President Kaher Kazem addressed concerns regarding a possible pullout from South Korea at the company’s headquarters in the Bupyeong District of Incheon on September 6. As part of the face-to-face with the media, reporters were given access to the normally off-limits Design Center where they got a [...]
SEOUL, Aug. 17 (Korea Bizwire) — General Motors Co. has named a productivity expert as chief of GM Korea Co. as the South Korean unit continues to struggle with declining sales, the Korean unit said Thursday. Kaher Kazem, president and managing director of GM India, will take the helm at GM Korea from Sept. 1. [...]