GM South Korean unit to spend $7.3 billion to expand

[ne_one]

GM South Korean unit to spend $7.3 billion to expand
Automotive News
February 22, 2013

General Motors Co.'s South Korean unit plans to invest 8 trillion won ($7.3 billion) over five years to expand in a country where it made four of every 10 Chevrolets sold worldwide last year.

GM Korea Co. will boost manufacturing facilities and double the size of its design center this year to the company’s third-largest after U.S. and Brazil, the company said in an e-mailed statement.

The automaker is increasing investment at the unit from 1 trillion won a year as it starts building new models to compete with a resurgent Toyota Motor Corp. The maker of the Prius regained the top spot in global sales from GM last year.

Full article at link.

[Neanderthal]

Well, that's a pretty tidy sum. Say, could we pay off our debt in won? A trillion here, a trillion there...

[Butz]

See Korea in your Chevrolet

[hunchman]

Who was it that benefited from the bail out at GM again?

[fakeout]

The design center that turned the Orlando concept into a weird bubble look? Oopsies.

[ByTheLake]

GM will invest where it has the best opportunities to expand. The US is no longer GM's biggest market, and the US market is not expanding, so it makes sense to invest where it has the biggest global opportunity, which is the Asian markets.

[Rick_VT]

Who was it that benefited from the bail out at GM again?

Anyone who managed to keep their job, thats who.

[jzchev28]

Who was it that benefited from the bail out at GM again?

GM is a global company, I don't understand why people like you cry every time they invest in a foreign market. Do you really think they haven't invested in this market already after the bailout. GM has been adding back jobs here after the bankruptcy, if they were still bleeding jobs here then I'd have a problem with it.

[plane]

Japan? Australia? New Zealand? Indonesia? Africa?

$7B isn't pocket change except for mgescuro who spends that on lunch every Friday.
It will be interesting to see what that money targets.

[georgewerr]

That's a lot of money, how much profit comes from these markets? I thought the majority of their profit came from the North American trucks and very little came from elsewhere but I could be wrong, have been before and will be again.

[ausrutherford]

The design center that turned the Orlando concept into a weird bubble look? Oopsies.

I thought the Orlando was designed by Holden?

[Lowboy]

The US is no longer GM's biggest market,

By their own doing one might add.

BUT, it is still their biggest profit center.

[ne_one]

The design center that turned the Orlando concept into a weird bubble look? Oopsies.

None of the design centers operate in isolation.

More often than not, product design is a collaborative effort between multiple locations, all of which ultimately report to the RenCen.

[avinarf]

Korean built Chevy's have had iffy quality issues...

[VS Ute 5Litre]

Korean built Chevy's have had iffy quality issues...

What about Korean Built Opels?