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General Motors International President Barry Engle sat down with the mayor of Incheon, South Korea, amid the automakers restructuring effort, Reuters reported on Thursday. The meeting came after a GM earnings call put CFO Chuck Stevens and CEO Mary Barra on the record calling for the restructuring of its South Korean operations.
GM Korea has remained a sore spot on the automakers balance sheet. Last year, sales dropped 26.6 percent, and the unit began 2018 with a 34 percent decrease in sales year-over-year. GM Koreas bread-and-butter business, vehicle exports, was down 6 percent last year, too.\
In a statement, GM Korea said is continuing a wide range of discussions with its business partners t…
Read the full article at: http://gmauthority.com/blog/2018/02/gm-meets-with-south-korean-mayor-amid-business-restructuring/