Korea Urges GM to Resolve Transparency Issues First

S. Korea’s Moon urges ‘stern’ response to new US tariffs

GM plans to produce two new models in South Korea: South Korea lawmaker

The official, who had direct knowledge of the matter, said GM had asked South Korea to inject funds into GM Korea through KDB.

South Korea and the USA have their own free trade agreement, known as Korus, but have begun talks on renegotiating it at Washington's demand.

Motors has offered a $2.8-billion investment to South Korea over the next 10 years in a move to restructure its problematic Korean unit, according to a senior government official in South Korea.

Industry Minister Paik Un-gyu has reaffirmed that the government can not offer financial support to General Motors (GM) unless it presents its commitment to new investment.

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Paik added that taxpayers' money would not be wasted in government efforts linked to the GM issue.

The restructuring proposal comes after the Detroit automaker announced last week that it would shut its plant in the city of Gunsan, southwest of Seoul, by May and decide the future of the remaining three plants in the country within weeks.

The five trade pacts open South Korea to key Central American countries after its deals with the US, the European Union and China helped boost exports.

"(The government) will come up with its own stance after we go over the company's plan on normalisation, while continuing to have thorough discussions", said Kim Dong-yeon to reporters. The union leader said in an interview that he believed in the possibility of GM leaving the country.

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Lim said that Barry Engle, GM's global operations head, expressed hopes of concluding this year's annual wage discussion in the quickest time possible. "We don't want to go as far as a full strike". "We have not received any official requests from GM, and it is too early to say what steps will be taken".

General Motors Co plans to produce two new models in South Korea, a local lawmaker quoted GM executive Barry Engle as saying at a meeting with South Korean members of parliament.

Seoul's inclusion in the list is frustrating since other close allies of the United States such as Canada, Japan and Germany, were excluded from the extra tariff though they are among the top 10 steel exporters.

Last week, the local carmaker's parent, General Motors Co., announced it will shut down its underutilized plant in Gunsan, one of the automobile giant's four auto assembly plants in South Korea.

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