GM Korea will decide on Monday whether to file for bankruptcy,... after opting to reach an agreement with its labor union on a self-help plan for the ailing company.<br />As the two parties failed to reach an agreement by the initial deadline proposed by management,... all eyes are on what unfolds in the coming hours.<br />Kim Hyo-sun tells us more. <br /> April 23rd is D-Day for GM Korea as the company will decide whether to file for court receivership,... depending on the negotiations with its labor union. <br />The U.S-based automaker delayed the initial deadline for wage negotiations from last Friday,... as it makes a last ditch effort to reach an agreement with its union. <br />While management and the union are still having difficulties in resuming their talks,... the company has stated that its board of directors plan to meet at 5 p.m. on Monday to approve bankruptcy filing. <br /> The two parties have yet to reach an agreement on the relocation of the workers at the Gunsan plant,... which is due to be closed next month. <br />Finance Minister Kim Dong-yeon also called for swift but sincere dialogue on the self-help plan that includes shutting down the plant, a wage freeze, giving up bonuses and the suspension of some work benefits.<br /> Meanwhile,... a study shows GM Korea can begin posting profits from 2020 if all sides agree to a comprehensive restructuring plan and the automaker normalizes its operations. <br />Kim Hyo-sun, Arirang News. <br />
