You are here: Home » Reuters » News
Business Standard

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 ...

This article is no longer available in our repository.

There could be multiple reasons for this.

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