S Korean President calls on GM chief to support local unit
Friday, 16 Oct 2009
Yonhap reported that South Korea President Mr Lee Myung bak has asked the visiting head of General Motors to continue supporting the company's local unit GM Daewoo.
He said that "I was deeply impressed by how quickly GM was able to be reborn as the New GM. I am convinced the company will be able to once again lead the international auto market as it is a company with latent energy."
Mr Lee told the GM chief that new business opportunities will emerge from the anticipated enactment of free trade agreements with the European Union and India.
The president called for more aggressive investments by GM to its South Korean unit, noting the country's FTAs with Europe and India will take effect next year, opening doors to the two giant markets.
Mr Fritz Henderson CEO of GM said that GM Daewoo has always been and will continue to be an important partner of the US carmaker.
It may be noted that Mr Fritz Henderson was on a visit for talks with the state run Korea Development Bank on securing fresh loans for the local unit.
