Mary Barra

GM to close auto plant in South Korea in restructuring

General Motors said Tuesday it will close an underutilized factory in Gunsan, South Korea, by the end of May as part of a restructuring of its operations.

The move is a setback for the administration of President Moon Jae-in, who has made jobs and wages a priority.

A GM statement said Monday the company has proposed to its labor union and other stakeholders a plan involving further investments in South Korea that would help save jobs.

"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,"...

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