The fate of Korea GM and Kumho Tires seems to be deciding on the 30th. General Motors` GM Korea and GM Korea`s negotiations on wage negotiations have been delayed and GM Korea`s withdrawal from the GM market is on the verge of resuming.

Kumho Tires` labor-management negotiations, the deadline to organize the union until the 30th Unless the union agrees to sell overseas, the possibility of going into court management has increased.

According to the related industry on March 29, there are worries that the situation of the fund of Korea GM will be revealed at the beginning of April, and there is a specific withdrawal scenario around Korea GM, such as withdrawal of Australian formula, withdrawal of production function.

"Once the labor union cannot reach an agreement by the end of March, it will not be possible to secure additional funds to pay various kinds of expenses that will be introduced in early April," Khao Khajem, CEO of GM Korea, said in an e - Given the current liquidity situation in the company, if the additional funds are not transfused, various payments will be impossible, including a lump sum payment on April 6 (incentives agreed in the wage negotiations in 2017)."

Even if it does not lead to a tentative settlement agreement at a comprehensive level, GM has complained that it will be difficult to allocate and invest in new cars, such as Bupyung and Changwon factories, and to support government and industrial banks. The industry expects GM`s new car to be difficult to enter unless the policy of resuming labor-management negotiations and concluding contract negotiations by 30th is confirmed.

GM Korea is expected to hold an extraordinary board meeting on the afternoon of July 28 to delay the 700 billion won borrowed from GM from February 23 to the end of March and to extend it to GM again by the beginning of May, We decided to recommend it to our head office. However, if a new car is not put in place by the end of March because a settlement agreement cannot be reached, restructuring of GM Korea will be in the new phase. "The GM headquarters is proposing that GM Korea will turn out to be profitable as the last route to withdraw from the market," he said. "When the labor union drifted out, it withdrew part of GM`s complete withdrawal, left engineering and design center, A variety of withdrawal scenarios are pouring out, including additional withdrawals from the facility (Changwon factory available), and the ability to sell only after full withdrawal. "

Kumho Tires also stood at the crossroads. The Korea Development Bank (KDB) said in a statement that Kumho Tire`s union would be forced to go to court procedures and delisting procedures if it does not agree on a plan to dispose of it as a Chinese double star until 30th and normalize management. Kumho Tire`s non-union members, including regular employees, are not limited by the union`s consent. However, as the government has adhered to the principle of stakeholder and non-stakeholder role playing a responsible role in the restructuring of STX Shipbuilding and STX Shipbuilding, it is expected that this trend will be applied to the restructuring of Kumho Tires. On October 8, the government put forward on the management plan of the mid-level shipbuilders that includes the contents of the court administration of Sungdong Shipbuilding and STX Shipbuilding`s high-intensity self-help efforts.

A representative of the tire industry said, "The government decided to apply for statutory management for Sungdong Shipbuilding & Marine Engineering Co., Ltd., which has been unable to regain even after the public funds of the water source have been invested. Kumho Tires.”


By Ye Jin Soo jinye@


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