South Korea will separate … GM "call examination"



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GM's attempt to divide the company into two production and research and development companies was banned at the shareholders' meeting last month. The court ordered the dissolution of the second largest shareholder, the Korean Development Bank, to prevent corporate divestment.

Kwak Sang-eun is a journalist on the sidewalk.

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The court decided to terminate GM Korea's division as it was determined that there was a serious flaw at the shareholders' meeting last month.

The Seoul High Court ruled that "GM Korea's division is a special resolution requiring 85% or more of the total number of ordinary shares in the statutes," said the Korean Development Bank.

The second largest shareholder, KDB, holds a 17% stake in GM Korea.

The union, which strongly opposed the division of the company due to an in-depth restructuring and withdrawal from its activities in Korea, welcomed the court's decision.

[정해철/한국GM 노조 정책기획실장 : 회사가 이 인용에 대해서 받아들이고 노동조합과 대화를 했으면 좋겠다는 입장을 밝히는 바입니다.]

GM, which recently announced the appointment of the president and executive vice president of a new company, has firmly resisted the plan to end the company's division by the end of the year. ;year.

GM Korea said that it "revised the call plan" while maintaining the position that "the division into a business is the best for all".

GM's headquarters is generating interest, which has announced a reduction in the production of five plants in North America and two factories abroad, as well as an in-depth restructuring that has cost 10,000 people.

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