GM president says ‘shared sacrifice’ needed to fix GM Korea | Reuters


DETROIT (Reuters) – General Motors Co (GM.N) President Dan Ammann said on Monday the automaker’s troubled South Korean operations can be a“sustainable, profitable business,” if unions and the South Korean government agree quickly on a restructuring.

GM has warned Korean officials the unit faces a“cash crisis” in the first quarter without new funding. Nearly 2 trillion won ($1.88 billion) of GM Korea’s debts to its parent are due by end-March or early April, according to a regulatory filing.

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