General Motors has reached an agreement with the union representing workers at South Korea's Daewoo Corporation. The 13,000 workers currently employed by Daewoo will not be laid off when GM takes over the bankrupt company, and 300 workers laid off last year will be rehired. The deal will likely allow GM to complete negotiations with Daewoo's creditors that had been stalled due to protests by South Korea's powerful unions (see WIT for Oct. 25, 2001).
See "Daewoo Workers To Keep Jobs", DON KIRK, The New York Times, April 9, 2002