Mexican Media Brands
S. Korea Begins Review of GM Korea’s Finances
The state-run Korea Development Bank launched a due diligence process earlier today into whether to help fund a bailout for General Motors Co.’s operations in South Korea.
#economics
Share
The state-run Korea Development Bank launched a due diligence process earlier today into whether to help fund a bailout for General Motors Co.’s operations in South Korea.
KDB says the process is being handled by Samil PricewaterhouseCoopers.
The bank holds a 17% stake in GM Korea, which has posted losses of 3 trillion won ($2.8 billion) over the past four years. GM intends to shut down one of its four factories in Korea in May and is assessing the viability of the other facilities. The U.S. carmaker has asked for $2.8 billion in financial aid from the Korean government, along with concessions from its workers.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.