The president of GM Korea, Kaher Kazem is urging its workers to accept wage freezes, saying that the company won’t be able to cover costs for the month of April unless the union agrees to these conditions. The company says that they need $561 dollars to cover severance packages for 2,600 workers who are retiring. The union says that GM Korea must forego their plans to close one of its factory’s before they agree to wage freezes and foregoing employee bonuses. To make matters worse, Korea’s National Development Bank (BDB) is refusing to extend any financial aid unless they see active participation from all parties involved.
See "GM Korea chief urges labor union to accept wage freeze", Jennie Oh, UPI, March 30, 2018