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GM to sell plant in S. Korea to local parts maker
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한국GM 군산 공장, 부품 업체가 인수
General Motors Korea has signed an initial deal with a consortium of autoparts makers to sell its shuttered plant in Gunsan.
The consortium plans to turn the facility into a parts factory for electric vehicles.
The acquisition price reportedly reached 180 million U.S. dollars.
The plant was shut down last May due to a low utilization rate and as part of GM's gobal reorganization plan.
General Motors Korea has signed an initial deal with a consortium of autoparts makers to sell its shuttered plant in Gunsan.
The consortium plans to turn the facility into a parts factory for electric vehicles.
The acquisition price reportedly reached 180 million U.S. dollars.
The plant was shut down last May due to a low utilization rate and as part of GM's gobal reorganization plan.
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