GM Korea’s board postpones decision on bankruptcy filing to Monday

General Motors logo

The board of General Motors’ South Korean unit has postponed its decision on filing for court-led rehabilitation proceedings to Monday, according to two sources knowledgeable with the situation.

GM Korea was not reachable for comment at the moment.

The company and its union failed to reach a wage deal by Friday, failing a deadline earlier set by the company to seek bankruptcy protection for the loss-making unit.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.