The Republic of Korea (RoK) will decide on the scope of its aid package for General Motors (GM) Co.’s Korean unit after looking into the company’s financial situation and long-term investment plan, Yonhap news agency cited government sources as saying on February 22.
Hanoi (VNA) – The Republic of Korea(RoK) will decide on the scope of its aid package for General Motors (GM) Co.’sKorean unit after looking into the company’s financial situation and long-terminvestment plan, Yonhap news agency cited government sources as saying onFebruary 22.
Last week, GM announced to close its factory inGunsan to the southwest of Seoul and decide the fate of its three others in theRoK after consulting with the RoK government, shareholders and GM labour unionsover restructuring plans and support measures.
The Detroit-based automaker proposed a2.7-billion-USD debt-for-equity swap and 2.8 billion USD in investment over thenext 10 years in return for financial aid through the state-run KoreaDevelopment Bank (KDB), which holds a 17 percent stake in GM Korea, and othertax benefits.
Also on February 22, Deputy Minister of FinanceKoh Hyeong-gwon held a meeting with GM Executive Vice President Barry Engle todiscuss the automaker's long-term business plan in the nation.
The two sides have agreed to appoint theauditing firm Samil PwC to conduct due diligence within weeks. The audit ispart of efforts to figure out the exact amount of GM Korea's debt to headquartersand its subsidiaries and whether it's proposed business plan is viable.
In 2017, sales of GM Korea declined 12 percentto 524,547 units.-VNA
Production dropped by 40 percent for the automobile industry, showing that the sector has not yet recovered from the 2012 economic crisis, said participants in an automobile workgroup at the Vietnam Business Forum held recently.
The auto industry in Vietnam is still very small, which is the reason why global auto component suppliers have not made their full presence in the market, the Automotive Working Group (AWG) said at the 2017 Vietnam Business Forum in Hanoi on June 27.
Carmakers of the Republic of Korea (RoK) posted lackluster profitability over the first half of 2017, falling far behind major overseas rivals, the Yonhap news agency reported.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
