Thursday, November 21, 2019
GM Korea Vice President Denies Possibility of GM’s Withdrawal from South Korea
Wage Talks for This Year Postponed to Next Year
GM Korea Vice President Denies Possibility of GM’s Withdrawal from South Korea
  • By Jung Min-hee
  • October 15, 2019, 08:49
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GM Korea has denied the possibility of GM's withdrawal from the South Korean market. 

GM Korea vice president Choi Jong said at the National Policy Committee of the National Assembly on Oct. 14 that the company established an elaborate business recovery plan last year and GM will never withdraw from the South Korean market as GM Korea is playing an important part in its business.

Earlier, the management and workers of GM Korea had their 10th round of wage negotiations on Oct. 11. However, they failed to reach an agreement and the wage negotiations for this year have been postponed to next year. After the 10th round, the unionized workers announced that every negotiation and strike would be suspended until the end of this year.

At the negotiations, the workers demanded a 5.65 percent increase in base pay along with a bonus equivalent to 250 percent of their ordinary wage, an additional bonus of 6.5 million won and a long-term business plan regarding the second plant located in Bupyeong, Incheon City. The management refused to accept the demands, claiming that business recovery should come first.

The management proposed a voucher so that the workers can purchase GM cars with a discount of one million won to three million won. The workers turned down the proposal.