GM Korea Chief Tries to Allay Shutdown Fears

      February 19, 2014 11:08

      GM Korea chief Sergio Rocha visited parts suppliers in Incheon on Tuesday in a bid to play down rumors that the carmaker is shutting down operations here.

      Rocha vowed to continue working with them "to supply top-quality products." GM Korea receives parts from around 2,000 subcontractors here.

      The rumors began to spread after GM CEO Dan Akerson told President Park Geun-hye during her U.S. visit in May last year that Korea needs to address the issue of high wages and frequent strikes, especially amid the onslaught of Japanese rivals armed with a weak yen.

      They were fanned by GM's decision late last year to halt sales in Europe of Chevrolets, many of which are manufactured at GM's plant in Gunsan, North Jeolla Province.

      On Friday, GM vice president of overseas procurement Johnny Saldana will also visit subcontractors in Korea.

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