FSC Head: GM Intent on Maintaining Korea Operations

Write : 2018-03-14 15:53:40 Update : 2018-03-14 17:03:17

FSC Head: GM Intent on Maintaining Korea Operations

The head of the country's top financial regulator says government support for General Motors Korea will depend on a plan to normalize sustainable operations in the long-run.

Financial Services Commission Chairman Choi Jong-ku made the remarks at a press conference in Seoul on Wednesday as he said the auto maker is intent on keeping its operations running in the country.  

He also requested the labor union of the local tire maker Kumho Tire accept a self-rescue plan devised by the firm's creditors.

He said the creditors are seeking to adjust wage and welfare systems to the level of making the normalization of operations possible. The chairman said that the creditors' requests are the minimum requirements for Kumho to take a leap forward.

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