GM has declared that they will invest 7.3 billion dollars in the next five years to the Korean business. It will ease the worries of the general decrease in South Korea by the outside.
GM said that they will invest 8 trillion won in five years in South Korea, about 7.3 billion dollars, mainly used to improve the production and design facilities. Li Tianze, head of GM international operations department said that:"GM Korea will continue to play an important role in our global growth plan." Although the South Korean market scale is small, the move of large scale investment highlights the importance of South Korea as the main production and R & D bas.
In the domestic market in South Korea, GM Korea sales ranked third only after Hyundai Motor and Kia Motors. The company plans to double the market share in the medium to long term to 20%.
