Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
6
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Opposition chief acquitted of instigating perjury
-
9
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
10
[Exclusive] Hyundai Mobis eyes closer ties with BYD
![[Exclusive] Hyundai Mobis eyes closer ties with BYD](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/25/20241125050044_0.jpg&u=)
![[Exclusive] Hyundai Mobis eyes closer ties with BYD](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/25/20241125050044_0.jpg&u=)
GM Korea, the Korean unit of General Motors, posted a record net loss of 986.8 billion won ($861.2 million) in 2015, the worst business performance since its launch in 2002 here, according to industry sources Monday.
The net loss is 2.8 times higher than that of 2014.
It also registered 594.4 billion won in operating loss on annual revenue of 11.94 trillion won last year, four times more than that of 2014.
“The pullout of Chevrolet from Russia, where GM Korea made substantial investments in the past few years, is a significant factor for the record loss. However, we believe it is a one-time expense,” a GM Korea official said.
The official added that other factors which affected its bottom line include increased labor costs and worsened business conditions in the Korean market.
By Hong Sung-pyo (hong1@heraldcorp.com)
-
Articles by Korea Herald
