GM Korea announced on the 28th that it plans to sequentially sell nine directly operated service centers located nationwide and will proceed with the sale of idle assets and some facilities at the Bupyeong plant.
This decision appears to have been made as vehicle sales in the domestic market have been sluggish, and tariff barriers are expected for re-exporting vehicles to the United States.
GM Korea stated that the GM Korea operation will begin consultations with stakeholders to secure financial sustainability in the rapidly changing industry and global business environment and noted that it will continue to provide customer support services through 386 affiliated service centers after selling the directly operated centers and that employment for workers at the directly operated service centers will be guaranteed.
It further noted that it plans to consult with various stakeholders regarding the sale of idle assets, underutilized facilities, and land at the Bupyeong plant, stating that this will not affect the already planned production activities.
Previously, GM Korea revealed plans to initiate plant facility renovations to prepare for a 'partial change model' that meets U.S. safety regulations. It seems preparations are underway to sell the facilities and land that were used for producing existing vehicles.