GM Korea May Close Down Its Manufacturing Presence in Korea
There are rumors that GM Korea will withdraw from the domestic market once again. According to local media reports on April 24, rumors that GM Korea will leave the country have emerged as the company posted 530 billion won (US$469.9 million) in operating loss last year and recently announced a voluntary retirement program for its employees.
GM Korea is receiving applications for voluntary retirement from its office workers from the 3rd. This is the fifth voluntary retirement program for its office workers since 2009.- http://www.businesskorea.co.kr/engli...presence-koreaThere were also rumors that GM Korea will close down the Gunsan plant as the company switched the production line of the Chevrolet Cruze, which has recently released full-changed models, to the Bupyeong plant after the discontinuation of the Orlando.
Exports of GM Korea’s fully built cars decreased from 620,000 units in 2013 to 410,000 units last year. This was because the Chevrolet brand withdrew from the European and Russian markets since 2013.