GM’s CEO and The Korea Jitters
With the recent rise of tensions between North Korea and South Korea, businesses and companies are changing their strategies to lessen to damage if there were to be a war. During an interview with CNBC, chief executive officer of General Motors suggested that they might start shifting the production of GM out of South Korea. For now it is only a short term decision but General Motors is the third largest automaker in Korea and this could be a drastic change if this decision goes on for the long haul. General Motors currently have 5 production plants with roughly 17,000 workers in Korea.
GM is one of the first companies I have heard so far to start changing their business strategy with the rise of tension between North Korea and South Korea, hopefully this fear of war won’t last for too long. As the economy slowly recovers, a war would not be the best way to help speed this process. A war is not ideal for any country or any one, so I am hoping the tension between the two countries will soon end and alleviate the stress that has caused to any businesses.