April 6, 2018 / 7:02 AM / a year ago

S.Korea urges GM, union to reach wage deal swiftly

SEOUL, April 6 (Reuters) - South Korea on Friday urged General Motors Co’s local subsidiary and labour union to reach a wage deal swiftly, saying the government will be able to discuss support for the money-losing unit on condition of an agreement.

The comments, made by the industry minister during a meeting with GM Korea’s chief executive officer (CEO), came as tension escalates at the automaker after the unit was unable to make bonus payments planned for Friday.

Union members protested on Thursday, entering the CEO’s office and removing chairs and desks, showed a video clip from broadcaster TV Chosun.

GM, which in February announced it would shut one of its South Korean factories, said it will file for bankruptcy should the union refuse to make concessions by April 20. GM has also asked for financial support from the government.

Reporting by Hyunjoo Jin

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