Posts Tagged ‘GM Korea’

GM Shutting One Korean Plant, Considering Fate of Others

Government open to aid offer – but demands investment guarantees.

by on Feb.13, 2018

The Gunsan plant has produced several GM models, including the Chevy Orlando shown here.

Facing rising costs and declining sales, General Motors today said it will close one of four factories in South Korea and, as part of an ongoing restructuring program, the automaker is weighing the fate of the remaining three facilities.

South Korean government officials expressed “deep regret” at the news. The country’s trade minister left open the possibility of financial aid but cautioned that any assistance will depend on whether GM plans to invest in its operations in Asia’s fourth-largest economy. But it appears all sides are playing a game of brinksmanship, the U.S. automaker waiting to see what stakeholders, including its unions, might be willing to offer.

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“As we are at a critical juncture of needing to make product allocation decisions, the ongoing discussions must demonstrate significant progress by the end of February, when GM will make important decisions on next steps,” Barry Engle, GM executive vice president and president of GM International, said in a statement.


GM Daewoo Changing Name to GM Korea

GM will market most vehicles under Chevrolet name in Korea.

by on Jan.21, 2011

GM Daewoo, best known in this country for producing the Chevrolet Aveo, is being renamed GM Korea. Most of its cars will be marketed as Chevys.

GM Daewoo Auto & Technology Co. – better known as GM Daewoo – announced today that it is replacing the current nameplate with a familiar one, Chevrolet.

All of the company’s new product introductions and refreshes this year will be under the Chevy badge. Additionally, GM Daewoo announced that it will be changing its company name to GM Korea Co., which General Motors said is globally consistent with all other GM country operations. The company name change is expected to be completed by the end of March.

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“This important new brand strategy is designed to strengthen our commitment to the Korean market, recognizing it as one of the strongest-performing countries within GM’s global operations. We are well positioned to bring one of the world’s iconic brands to Korea,” said Mike Arcamone, president and CEO of GM Daewoo.  “We cannot afford to sit still, and instead, choose to make a bold move with the launch of Chevrolet in Korea.”