Sergio Rocha Archives | Be Korea-savvy

Rising Wages in Korean Automotive Industry Lower International Competitiveness

SEOUL, Aug. 31 (Korea Bizwire) – “Labor costs in Korea are rising rapidly. For example, Indian assembly plants can produce cars at half the cost of those in Korea. The so-called ‘ordinary wage’ issue will affect all Korean industries – not just the automobile industry.” Last May, Sergio Rocha, president and CEO of GM Korea, [...]

GM Korea Denies Relocation Rumor but Sees Declining Production

SEOUL, May 7 (Korea Bizwire) – Against the backdrop of a Reuters’ interview with General Motor’s top executive hinting that the Detroit-based automaker might relocate its Asian production base from Korea to India, officials from GM Korea say that the likelihood of a move is low, but they are paying close attention to the situation. On [...]