CEO Mary Barra has said GM urgently needs better cost performance from its operations in the country
Seoul, South Korea – General Motors says it will close an underutilized factory in Gunsan, South Korea, by the end of May as part of a restructuring of its operations.
A GM statement said Monday that it has proposed to its labor union and other stakeholders a plan involving further investments in South Korea that would help save jobs.
The company’s CEO Mary Barra has said GM urgently needs better cost performance from its operations in the country, where auto sales have slowed.
GM Korea has made 10 million vehicles since it was set up in 2002. In 2017, it sold 132,377 units in Korea and exported 392,170 vehicles to 120 markets around the world.