GM to invest US$7.3 billion in expanding production in South Korea

General Motors, the world’s second-largest automaker, announced plans to invest 8 trillion won (US$7.3 billion) over five years to expand in South Korea, saying the market remains important to the company.
The GM Korea unit will boost manufacturing facilities and double the size of its design center this year, making it the company’s third-largest after the United States and Brazil, the Detroit- based automaker said in a statement.
“GM Korea will continue to play a major role in our global growth plans,” Tim Lee, GM international operations head, said in the statement.