South Korea’s Moon Jae-in says General Motors’ factory shutdown will be a blow to regional economy

South Korean President Moon Jae-in also asked his government to act sternly in trade talks with the United States, expressing worry over curbs on imports from other countries recently imposed by Washington.

By: Reuters | Seoul | Published: February 19, 2018 12:40:37 pm
Moon Jae-in says General Motors' factory shutdown will be a blow to regional economy South Korean President Moon Jae-in. (Kim Hong-Ji/Pool Photo via AP)

South Korean President Moon Jae-in said on Monday General Motors’ decision to shut down a factory south of Seoul will be a blow to the region and asked relevant government ministries to take measures to shore up economic activity there. GM announced last week it will shutter the plant in Gunsan, in South Korea’s southwest, by May and decide within weeks on the fate of the remaining three plants in the country.

“Especially, the decline in employment (at GM) and subcontractors will be difficult to bear for Gunsan City and North Jeolla province,” Moon told his aides at a regular meeting. Moon also asked his government to act sternly in trade talks with the United States, expressing worry over curbs on imports from other countries recently imposed by Washington.

For all the latest World News, download Indian Express App

Advertisement
Advertisement
Advertisement
Advertisement