The chief financial officer (CFO) of General Motors (GM) stated that there are no plans to adjust the production volume of GM Korea for the time being. This comment comes amid the rekindled speculation of GM's withdrawal from Korea, following GM's announcement last month on the 28th that it would sell part of the equipment and land at the Incheon Bupyeong plant and its nine currently operating domestic service centers.
On the 1st, according to the automotive industry and Automotive News, Paul Jacobson, GM CFO, said during the 41st Bernstein conference call held on the 29th local time that when asked about the production volume changes at the Korean plant due to the 25% tariff imposed by the Donald Trump administration, "We want to take a little more wait-and-see approach," and noted, "Through negotiations with the Trump administration, Korea will remain a key partner for the U.S., and this is optimistic." Jacobson added, "I don’t want to rush into decisions that need to be made in the long term under the 25% tariff situation," stating that, "The highest possibility we see now could decrease further."
Jacobson, the CFO, also highly evaluated the revenue of GM Korea. He stated, "The business in Korea is really strong," adding, "The vehicles currently produced in Korea are better than ever, and I believe there are still many opportunities." He further mentioned the Chevrolet Trax and Trailblazer, small sport utility vehicles (SUVs) produced in Korea, noting, "The revenue contributions from these vehicles remain positive."