South Korea being driven into difficult situation by GM Korea, U.S. trade policies: PM Lee Nak-yon
- 6 years ago
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Prime Minister Lee Nak-yon says South Korea is being driven into a difficult situation,... citing General Motors' decision to shut down one of its assembly plants in the country.
Let's take a look at what he had to say.
"GM Korea decided to shut down its Gunsan plant, and the Trump administration is putting together measures restricting steel imports. Korea is being driven into a difficult situation."
GM said last Tuesday that it would close its plant in the southwestern port city of Gunsan by the end of May, due to lower demand for its vehicles.
The move is expected to result in thousands of job losses.
Adding to these woes, the U.S. Commerce Department suggested slapping a 53 percent tariff on steel imports from a dozen countries last week, including South Korea, in order to protect the U.S. steel industry.
Prime Minister Lee asked related ministries to come up with measures to tackle the issue.
Prime Minister Lee Nak-yon says South Korea is being driven into a difficult situation,... citing General Motors' decision to shut down one of its assembly plants in the country.
Let's take a look at what he had to say.
"GM Korea decided to shut down its Gunsan plant, and the Trump administration is putting together measures restricting steel imports. Korea is being driven into a difficult situation."
GM said last Tuesday that it would close its plant in the southwestern port city of Gunsan by the end of May, due to lower demand for its vehicles.
The move is expected to result in thousands of job losses.
Adding to these woes, the U.S. Commerce Department suggested slapping a 53 percent tariff on steel imports from a dozen countries last week, including South Korea, in order to protect the U.S. steel industry.
Prime Minister Lee asked related ministries to come up with measures to tackle the issue.