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GM president says 'shared sacrifice' needed to fix GM Korea

Reuters  |  DETROIT 

By Joseph WhiteDETROIT (Reuters) - General Motors Co President Dan Ammann said on Monday the automaker's troubled South Korean operations can be a "sustainable, profitable business," if unions and the South Korean government agree quickly on a restructuring.GM has warned Korean officials the unit faces a "cash crisis" in the first quarter without new funding. Nearly 2 trillion won ($1.88 billion) of GM Korea's debts to its parent are due by end-March or early April, according to a regulatory filing."Time is short and everybody must move with urgency," Ammann told Reuters in an interview when ...

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First Published: Tue, March 13 2018. 11:41 IST
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