Korea Development Bank says it supports GM Korea's R&D separation plan
- 5 years ago
The state-run Korea Development Bank, GM Korea's second largest shareholder,.... supports the automaker's plan to set up a separate research and development company.
Speaking to reporters on Tuesday,... KDB CEO Lee Dong-gull said.... they reviewed GM Korea's spin-off plan... and believed it will help the cash-strapped carmaker cut costs.
He added.... local auto parts companies can also work with the new R&D entity,... which will spur job creation.
According to the KDB, the new unit will be GM Korea's main R&D center for SUV and crossover utility vehicles.
However, the automaker's labor union believes..... the spinoff is a step towards closing or selling plants...and vowed to stage an eight-hour strike on Wednesday.
Speaking to reporters on Tuesday,... KDB CEO Lee Dong-gull said.... they reviewed GM Korea's spin-off plan... and believed it will help the cash-strapped carmaker cut costs.
He added.... local auto parts companies can also work with the new R&D entity,... which will spur job creation.
According to the KDB, the new unit will be GM Korea's main R&D center for SUV and crossover utility vehicles.
However, the automaker's labor union believes..... the spinoff is a step towards closing or selling plants...and vowed to stage an eight-hour strike on Wednesday.