GM offers 10-year, $2.8 billion plan for Korea unit, lawmaker says
(WorldNews South Korea)

General Motors has offered a $2.8 billion new investment plan for its South Korean business after threatening to exit the country amid mounting losses, a lawmaker from the nation`s ruling party said. The investment, being proposed for the next 10 years in South Korea, is needed to produce new models, for r&d, to renovate facilities and for business restructuring, said Hong Young-pyo, a lawmaker from Bupyeong, where GM Korea`s biggest plant is based. ......