GM may be about to pull out of South Korea (GM)

pulse

February 6, 2018 11:32 PM

General Motors and CEO Mary Barra made news last year when the company sold its long-underperforming Opel division. GM Korea could be next.

The company operates GM Korea there and has done so since 2002.
The move would follow an exit from Russia and the sale of Opel to PSA in 2017.

General Motors and CEO Mary Barra made news last year when the company sold its long-underperforming Opel division to the PSA Group for $2.3 billion. This followed moves to leave the Russian market and to end vehicle production in Australia.

Barra's relentless focus at GM has been to maximize the carmaker's return on invested capital. If a region isn't performing up to expectations, Barra isn't going to hang on — she wants to spend money to compete in the US and China, and to be invested in new technologies, such as electric vehicle and autonomous mobility.

After GM announced strong fourth-quarter and full-year 2017 earnings, Barra and CFO Chuck Stevens joined analysts on a conference call — and dropped another bombshell. Now that GM has largely exited Europe, South Korea could be next.

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