GM plans South Korea investment after Trump takes credit for plant closing: report
Source: The Hill
BY MAX GREENWOOD - 02/21/18 10:10 AM EST
General Motors is proposing investing $2.8 billion in its South Korea operations over the next decade, even after President Trump touted the company's decision to close one of its factories in the country.
The automaker expects the state-run Korea Development Bank, which owns a 17 percent stake in GM Korea, to put up roughly $476 million in investment, according to a Reuters report.
GM said last week that it would close its factory in Gunsan, South Korea, and that it wanted to "restructure its business in" the country, according to the Detroit Free Press.
During a discussion on trade with South Korea last week, Trump claimed that his policies were responsible for GM's Gunsan plant closure, and suggested that the automaker would move jobs "back from Korea to Detroit."
Read more: http://thehill.com/policy/finance/374828-report-gm-proposing-multiyear-investment-in-south-korea-after-trump-touts
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