South Korea
Hyundai considers contract manufacturing to cut costs
June 4Hyundai conducted due diligence on a contract car manufacturing plant site for possible investment, as the South Korean firm seeks ways to cut costs and conserve capital.
Hyundai overhaul plan gets more opposition
May 15Two influential proxy advisers joined Elliott Management in opposing a nearly $9 billion deal between two Hyundai Motor Group units.
GM Korea expects to turn profit in 2019, plans 2 new vehicles
May 11General Motors' South Korean unit reiterated on Friday that it should return to profitability by 2019 and that it will invest $2.8 billion in a new, small SUV as well as a crossover for the local market and for export.
GM Korea rescue calls for stake lock-in, regional HQ
May 10GM will stay in South Korea for at least 10 years and set up its Asia-Pacific headquarters in the country, according to terms of the deal rescuing the struggling unit.
S. Korea says deal to ensure GM will stay in country for at least 10 years
May 9South Korea said that an impending deal with General Motors to refinance its local unit will ensure the automaker remains in the country for at least 10 years, as its rights to sell shares and assets will be curtailed.
GM to provide loans to Korean unit, government bank to receive shares, reports say
May 2General Motors' planned cash infusion to rescue its South Korean business will be in the form of loans, while Korea Development Bank will receive preference shares for its $750 million investment in GM Korea, two sources familiar with the matter said told Reuters.
GM, South Korea to invest $4.35 billion in troubled unit
April 26General Motors and South Korea agreed to inject $4.35 billion into the company's unprofitable local arm to keep it afloat after it came close to seeking bankruptcy protection.
GM Korea, union reach tentative wage deal to avert bankruptcy
April 23GM'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.
Activist investor turns up heat on Hyundai
April 23Activist 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.
GM Korea, union fail to reach wage deal
April 20GM'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?
April 19GM'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.
GM Korea, union fall short of deal before deadline
April 19Wage talks between GM's South Korean unit and its labor union ended without an agreement on Thursday, a day before the deadline the company has set for filing for bankruptcy.
