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GM Korea holds meeting with gov't to discuss U.S. tariffs: sources

Published: 06 Mar. 2025, 17:25 Updated: 06 Mar. 2025, 18:19

Logo image of GM Korea [YONHAP]

GM Korea, the Korean unit of General Motors, held a meeting with government officials on Thursday to discuss a possible response to the Donald Trump administration's plan to impose auto tariffs, sources said.

GM Korea executives held a closed-door meeting with Deputy Trade Minister Park Jong-won and other officials from the Ministry of Trade, Industry and Energy earlier in the day, the sources said.

Details of the meeting were not immediately known, but the two sides are expected to have discussed the U.S. tariff scheme's impact on GM Korea's business.

After the Trump administration announced its plan to impose 25 percent duties on imported cars, market watchers began speculating that GM may pull out of Korea.

If Washington's auto tariff plan is realized, GM Korea will likely suffer a big blow as its exports to the United States account for 85 percent of the company's overall sales.

At an investors conference on Jan. 29, GM Korea's chief financial officer Paul Jacobson reportedly said the company may need to consider relocating its manufacturing facilities if the U.S. tariffs become permanent.

Yonhap