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.

UPDATED: 4/12/18 5:59 pm ET - adds details

GM says South Korean unit will file for bankruptcy if no union concessions

General Motors said its loss-making South Korean operations would file for bankruptcy if its union did not agree to cut labor costs by April 20, the union said.

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