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On the 6th, GM Korea announced that it plans to retain and review costs related to the investment in the Bupyeong plant, which was scheduled for the production of new, next-generation global products.
Earlier this year, GM Korea proposed to build a new model production plant by investing a total of 190 million dollars (approximately 210 billion won) in the Bupyeong 1 plant starting next year in the negotiation process. of this year. However, the union refused to require the assignment of electric vehicles.
Along with this, the union has initiated an industrial action that refuses to work overtime or overtime. In addition, on the 30th of last month and on the 2nd of last month, a partial stoppage was carried out for two days, and it was decided to proceed with a partial stoppage for 4 hours on days 6 and 9-10. You plan to continue refusing to work overtime and overtime.
As the union’s industrial action showed signs of prolonged periods, management finally announced a review of the investment plan. In response, GM Korea announced that in the first half of this year, there were production losses of more than 60,000 units due to Corona 19, etc., and it suffered a severe cash liquidity crisis. The cumulative production loss is estimated to increase to 12,000 units due to this additional dispute action decision.
GM Korea said: “We are taking strong cost-cutting measures to ensure liquidity and continue to operate and invest in the company, but the liquidity situation is getting worse due to the union’s industrial action.”
If the withdrawal of GM Korea from its investment plan leads to the withdrawal of the investment plan, the management normalization process is expected to become more difficult.
On that day, the Korea Development Bank, GM Korea’s second-largest shareholder, said: “We are seriously concerned that the promotion of GM Korea’s standardization is being delayed due to recurring labor and administrative disputes and consequent business disruptions. Production “Work together to resolve management uncertainty through an agreement and to normalize GM Korea’s management amid the Corona 19 crisis.”
From the union’s perspective, if the investment plan for the production of new cars is withdrawn, it is expected to cause a considerable blow as the workforce will shrink.
An industry insider said, “If the workforce is gone, there will be situations where you may not even want to work.”
However, there are also observations that GM Korea’s announcement of this investment retention is a means of putting pressure on the union. This is because even from GM Korea’s point of view, planned investment is unavoidable for management standardization.
Furthermore, if GM Korea cancels its investment plan for the Bupyeong plant, it could suffer again from rumors that it is withdrawing from the Korean market. In response, GM Korea said: “The suspension of the investment plan for the Bupyeong plant has nothing to do with the withdrawal from the Korean market.”
Reporter Kang Gil-hong [email protected]
