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BREAKING: GM Q1 earnings before interest and taxes drop 27% to $2.6 billion on restructuring and other charges
Asia

GM Korea, union reach tentative wage deal to avert bankruptcy

GM's South Korean unit said that it has reached a tentative wage deal with its labor union, meeting a key condition laid down by the automaker to prevent it filing for bankruptcy.

UPDATED: 4/20/18 9:21 am ET - adds details

As GM mulls options, how does bankruptcy work in S.Korea?

GM's Korean unit has warned that it would file for bankruptcy if there isn't a restructuring deal by Friday, as the operation is running out of cash to pay employees and suppliers amid slumping sales. A look at how South Korea's court-managed bankruptcy protection procedures work.

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UPDATED: 4/23/18 10:38 am ET -- adds details
Activist investor turns up heat on Hyundai

Activist hedge fund Elliott Management dismissed Hyundai Motor Group's restructuring plan as insufficient on Monday and called on the South Korean conglomerate to adopt a holding company strategy and appoint more independent board members.

UPDATED: 4/20/18 9:21 am ET - adds details
GM Korea, union fail to reach wage deal

GM's South Korean unit and its labor union failed to reach a wage deal after another round of talks that sought to avert a bankruptcy filing for the unprofitable operation. Talks will continue over the weekend.

As GM mulls options, how does bankruptcy work in S.Korea?

GM's Korean unit has warned that it would file for bankruptcy if there isn't a restructuring deal by Friday, as the operation is running out of cash to pay employees and suppliers amid slumping sales. A look at how South Korea's court-managed bankruptcy protection procedures work.


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