South Korea weighs options for GM Korea: financial minister

SEOUL (Reuters) – South Korea is deliberation several options per General Motors Co’s operations in a country, a financial apportion pronounced on Friday after a U.S. automaker called for team-work over a restructuring efforts.

GM’s Korea operations have been struggling with rising labor costs and slumping domestic sales, fuelling concerns over a intensity pullout.

“We are scheming for several possibilities,” Finance Minister Kim Dong-yeon told lawmakers, asked if he had any strait devise for GM’s probable pullout.

Kim did not give serve details.

Persistent speak of a carmaker’s exit has lifted regard in tiny South Korean cities where it operates production plants.

South Korea’s state-run growth bank binds a 17 percent interest in GM Korea, while GM has 77 percent and China’s SAIC Motor Corp Ltd has 6 percent.

A South Korean clamp financial apportion pronounced a Detroit-based automaker had told him in a new assembly that it “needed cooperation”. He declined to elaborate on either GM had asked for financial support from a government.

Reporting by Shinhyung Lee, Writing by Ju-min Park; Editing by Stephen Coates

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