 "General Motors, GM")
General Motors has offered a $2.8 billion new investment plan for its South Korean business after threatening to exit the country amid mounting losses, a lawmaker from the nation’s ruling party said.
The investment, being proposed for the next 10 years in South Korea, is needed to produce new models, for research and development, to renovate facilities and for business restructuring, said Hong Young-pyo, a lawmaker from Bupyeong, where GM Korea’s biggest plant is based. The US automaker is also considering a $2.7 billion debt-for-equity swap at its Korean unit, Hong said in a phone interview Wednesday.
“We have a product plan
