GM, 20th Anniversary Ceremony of Korea Launch... "Transition to a Sustainable Business Model"

"Next-Generation Global New Cars, Timely Supply to Worldwide Markets"
"Launching 10 Electric Vehicle Models in the Domestic Market by 2025"

[Changwon=Asia Economy Reporter Yoo Hyun-seok] GM held a commemorative ceremony at the Changwon plant on the 19th to mark the 20th anniversary of its launch in Korea and presented strategies and future goals for transforming Korea GM’s growth business.

At the event, GM celebrated the major achievements made in Korea over the past 20 years. Based on the Changwon plant, where state-of-the-art facility investments have been made for the production of next-generation global new products, GM plans to transform its Korean business into a profitable and sustainable business model.

President Roberto Rempel described GM’s milestones as a member of Korea’s economy and society over the past 20 years as follows: ▲ Over 9 trillion KRW invested in Korea since its launch in 2002 ▲ Production of approximately 26 million vehicles over the past 20 years (12 million complete vehicles, over 14 million semi-knocked down parts) ▲ Export of about 24 million vehicles (9.6 million complete vehicles, 14.4 million semi-knocked down parts) to 140 countries ▲ Sales of about 50 models and approximately 2.4 million Chevrolet and Cadillac vehicles in the domestic market ▲ Employment of about 12,000 employees and contribution to the creation of hundreds of thousands of jobs domestically ▲ Purchase of materials and parts worth over 100 trillion KRW from domestic suppliers ▲ Introduction of long-range pure electric vehicles for the first time in Korea, contributing to the popularization of electric vehicles ▲ Donation of about 700 vehicles and over 200,000 hours of volunteer work to foster coexistence with local communities.

President Rempel said, “As Korea’s largest foreign-invested company, GM has contributed to Korea’s economic development by creating hundreds of thousands of jobs over the past 20 years, producing, selling, and exporting vehicles domestically, and designing and developing global vehicles in Korea. We have continuously pursued coexistence with local communities through steady social contribution activities.” He added, “We are proud to have contributed to the development of Korea’s automotive industry ecosystem by achieving mutual growth through close cooperation with parts suppliers.”

Next, President Rempel introduced GM’s investment progress for sustainable growth in Korea as follows: ▲ GM invested 900 billion KRW in the Changwon plant and 200 billion KRW in the Bupyeong plant ▲ The Changwon plant transformed into a world-class GM production base by securing production efficiency and flexibility through large-scale investments ▲ In March last year, a new painting plant with an area of 80,000 square meters and three floors was built ▲ From September last year to March this year, concentrated investments were made in the press, body, and assembly plants ▲ GM’s latest global standard technologies and automated facilities were applied to each process, enabling production of 60 vehicles per hour and the capability to produce vehicles ranging from small to large sizes.

Alongside the next-generation global new vehicles produced at the GM Changwon plant, the Chevrolet Trailblazer produced at the Bupyeong plant is responsible for targeting the global market. Since its launch in 2020, the Trailblazer has provided Korean consumers with an opportunity to experience GM’s global product competitiveness, and over 380,000 units have been exported worldwide to date. The Trailblazer recorded the second-highest export volume in Korea last year.

Finally, President Rempel explained the blueprint for GM’s transformation into a growth business in Korea as follows: ▲ Based on an annual production capacity of 500,000 units in 2023, GM will timely supply the Trailblazer and next-generation global new vehicles to global markets ▲ GM will strengthen domestic sales by expanding its portfolio through a multi-brand strategy ▲ By 2025, GM will launch 10 electric vehicle models in Korea, embodying GM’s global electric vehicle leadership.

President Rempel said, “We expect the next-generation global new products to achieve great success in global markets alongside the Chevrolet Trailblazer.” He added, “GM will introduce the world’s best models of Chevrolet, Cadillac, and GMC in Korea to meet the diverse demands of customers seeking various American lifestyles, from those pursuing practicality to those desiring premium vehicle experiences.” He continued, “Furthermore, to help Korea achieve its carbon neutrality goals, GM will launch 10 electric vehicle models across its brands by 2025, contributing to accelerating the electric vehicle transition in the domestic market.”

This content was produced with the assistance of AI translation services.