New GM Korea CEO Pledges to Turn Carmaker Around by Next Year

  • By Lim Kyeong-eop

    June 23, 2022 13:02

    New GM Korea CEO Roberto Rempel has promised that his company will reach breakeven point this year and make a profit from next year.

    "Now we are in the stage of a new chapter for GM in Korea, fulfilling our commitment made in 2018 and turning the spin towards growth with our confident strategy of strong export and multi brands in Korea," he told reporters Wednesday.

    GM Korea suffered an operating loss of W376 billion last year and has been in the red for eight years in a row (US$1=W1,297).

    During a media event in Incheon on Wednesday, Rempel, who was appointed to the post last month, said the carmaker has concentrated on cutting costs in the past but will make proactive efforts to produce new vehicles. He also revealed plans to expand production and exports.

    GM Korea CEO Roberto Rempel speaks during a media event in Incheon on Wednesday.

    "GM will reach an annual production capacity of half million units locally with the Trailblazer and the next-generation global new CUV that will be produced in Korea from next year," he said.

    Last year GM produced only 240,000 cars here.

    GM Korea also announced the launch of the GMC brand specializing in premium pickups and SUVs and introduced the Sierra Denali pickup.

    With that, GM Korea now supplies all the company's global brands including Chevrolet and Cadillac. It also plans to roll out 10 electric vehicle models here by 2025 to expand its portfolio. 

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