General Motors Korea on Monday said it would reduce production this week by up to 10% because of a possible lack of parts from Japan following the earthquake.
The automaker – previously known as GM Daewoo Auto & Technology – said it would stop four hours a day of overtime work from today (21 March, 2011) at its plants in the western city of Bupyeong and in the southwestern port of Gunsan, the Korea Herald reported.
Go deeper with GlobalData
The company said it would also suspend eight hours a day of extra work during the weekend at Gunsan. But it will maintain its current work schedule at its plant in the southern city of Changwon.
“Overall, up to 10% of production will be reduced,” a GM Korea spokesman told AFP.
“The move is temporary, and our company will decide whether to reduce production next week while watching the situation in Japan,” he said.
GM owns a 70.1% stake in GM Korea, the main manufacturing base for Chevrolet brand models sold outside North America. Its market share in Korea was around 8% last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
