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General Motors planned $3.6 billion cash infusion to save its South Korean business is going to be in the form of loans, while Korea Development Bank (KDB) will get preference
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General Motors has planned to provide $3.6 billion in fresh funding to its struggling South Korean unit, more than its earlier proposed $2.3 billion as part of a preliminary deal,
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
South Korea’s finance minister stated on Monday that public funds could only be utilize to favor the South Korean auto unit of General Motors if it was obvious that the
General Motors stated its loss-making South Korean unit will file for bankruptcy if its union did not agree to cut labor costs by April 20, piling pressure on workers and
A 47-year-old worker at a South Korean plant of General Motors was found dead in a suspected suicide after submitting for a voluntary redundancy program of the U.S. automaker’s ailing
General Motors President Dan Ammann stated on Monday the automaker’s troubled South Korean operations can be a “sustainable, successful business,” if unions and the South Korean government concur soon on
General Motors confirmed information about a proposed investment in its loss-making South Korean company on Friday, however stated it went through support from Seoul and GM’s Korean union. GM Korea
General Motors has proposed an investment of $2.8 billion into its loss-making South Korean operations over the next 10 years and has asked Seoul to offer its share of the
General Motors’ South Korean workers will go on a full strike if the automaker chooses to entirely pull out of the country, its union head informed Reuters on Wednesday, adding
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