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GM says sticking to April 20 deadline for GM Korea restructuring

Reuters  |  DETROIT/SEOUL 

By Joseph White and Hyunjoo JinDETROIT/SEOUL (Reuters) - General Motors Co's president said common ground must be reached on a long-term financial restructuring of GM's South Korean auto unit by April 20 and if there was none, the operation would likely seek bankruptcy protection.GM has been in talks since February, seeking support and incentives for the money-losing operation from the Korean government as well as concessions on wages from labor unions. The automaker plans to close one GM Korea plant and is weighing the fate of three others.The April 20 deadline, first given in late March, ...

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First Published: Fri, April 13 2018. 12:05 IST