GM Korea has started the process of disposing of non-core assets and some facilities at its Bupyeong plant, as well as selling nine of its direct service centers nationwide.
 
GM Korea announced on Thursday that it will begin discussions with relevant stakeholders on ways to secure financial sustainability in the rapidly changing industrial and global business environment.
 
The company explained that it will receive an asset valuation from a credible institution for the sale of assets, adding that the move will not affect production activities that are already scheduled.
 
Customer support services will continue to be provided through 386 contracted after service centers, and even after the sale, the company said employment for those working at direct service centers will be guaranteed.

The announcement has sparked concern that the U.S. automaker may scale down its operations in South Korea.
 
Earlier, the Donald Trump administration began imposing 25 percent tariffs on cars imported to the United States, raising concerns that GM Korea would take a major hit and lose price competitiveness as it ships 85 percent of its vehicles to the U.S.