{"id":64182,"date":"2018-04-26T11:53:35","date_gmt":"2018-04-26T11:53:35","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=64182"},"modified":"2018-04-26T11:53:35","modified_gmt":"2018-04-26T11:53:35","slug":"gm-president-says-near-resolution-for-south-korea-unit-union-accepts-wage-deal","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/gm-president-says-near-resolution-for-south-korea-unit-union-accepts-wage-deal.html","title":{"rendered":"GM president says near resolution for South Korea unit, union accepts wage deal"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">GM president says near resolution for South Korea unit, union accepts wage deal<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">General Motors Co\u2019s (GM.N) president said on Thursday that it was very close to a resolution to fix its ailing South Korean unit, as its South Korean union accepted a wage deal.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">\u201cOver the last few months, over the last few weeks a lot of very good progress has been made,\u201d GM President Dan Ammann said in a meeting with South Korean ruling party lawmakers.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">\u201cWe appreciate constructive efforts from all parties, and we stand here today very close to a resolution,\u201d Ammann said.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">On Monday, the Detroit carmaker reached a preliminary deal with its South Korean labor union, winning concessions on pay and bonuses, allowing the money-losing operation to avoid filing for bankruptcy protection.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Unionized workers at GM Korea approved a tentative wage deal agreed with the automaker, which includes a base salary freeze and no bonuses for this year.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The automaker is currently in talks with the South Korean government over an injection of public funds to support the unit.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">GM and the state-run Korea Development Bank (KDB) are considering increasing the size of their investment from a previously proposed $2.8 billion, a senior government official said on Wednesday.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The U.S. automaker owns 77 percent of GM Korea. KDB holds 17 percent and China\u2019s SAIC Motor Corp Ltd (600104.SS) controls the remaining 6 percent.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt;color: #000000\">Source:-https:\/\/www.reuters.com\/article\/us-gm-southkorea\/gm-president-says-near-resolution-for-south-korea-unit-union-accepts-wage-deal-idUSKBN1HX074<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/gm-president-says-near-resolution-for-south-korea-unit-union-accepts-wage-deal.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>GM president says near resolution for South Korea unit, union accepts wage deal General Motors Co\u2019s (GM.N) president said on Thursday that it was very close to a resolution to fix its ailing South Korean unit, as its South Korean union accepted a wage deal. \u201cOver the last few months, [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":64183,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[146,117626,134254,128711,30775,128710],"class_list":["post-64182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business-news","tag-business-news-today","tag-gm-president-says-near-resolution-for-south-korea-unit-union-accepts-wage-deal","tag-latest-and-daily-business-news","tag-latest-business-news-usa","tag-live-updates-news"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/64182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=64182"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/64182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/64183"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=64182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=64182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=64182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}