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New GM Korea CEO Pledges to Turn Carmaker Around by Next Year

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New GM Korea CEO Pledges to Turn Carmaker Around by Next Year

The new CEO of GM Korea Roberto Rempel said that the company would breakeven this year, and then make a profit next year.

“Now we are in the stage of a new chapter for GM in Korea, fulfilling our commitment made in 2018 and turning the spin towards growth with our confident strategy of strong export and multi brands in Korea,” he told reporters Wednesday.

GM Korea suffered an operating loss of W376 billion last year and has been in the red for eight years in a row (US$1=W1,297).

Rempel was elected to this post on Wednesday. He said that while the company has focused on cutting costs, it will continue to make efforts to develop new cars. Rempel also announced plans to increase production and exports.

Roberto Rempel, CEO of

GM Korea speaks at a media conference in Incheon.

“GM with the Trailblazer, and the new global CUV (next-generation global) that will be manufactured in Korea starting next year will achieve a half-million unit annual production,” he stated.

Last year GM produced only 240,000 cars here.

GM Korea announced the launch the GMC brand, which specializes in SUVs and premium pickups. It also introduced the Sierra Denali pickup. With this, GM Korea supplies the entire company’s international brands such as Chevrolet and Cadillac. It also plans to roll out 10 electric vehicle models here by 2025 to expand its portfolio.

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