💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

GM factory worker in South Korea found dead in suspected suicide

Published 03/25/2018, 12:31 AM
Updated 03/25/2018, 12:40 AM
© Reuters. FILE PHOTO: The main gate to GM Korea's Gunsan factory is seen in Gunsan
GM
-

SEOUL (Reuters) - A worker at a South Korean plant of General Motors (N:GM) was found dead in a suspected suicide after filing for a voluntary redundancy program of the U.S. carmaker's ailing unit, union officials and police said on Sunday.

GM plans to shut down its Gunsan plant by May and almost 2,500 workers, or about 15 percent of the staff, have applied for the redundancy package offered as part of a restructuring of its operations.

The death of the 47-year-old worker in his home was reported to police around 4:30 p.m. on Saturday, and the suspected suicide is being investigated, a police official said.

If proven, it would be the first suicide reported from the plant ahead of the planned shutdown.

A spokesman for GM Korea said it was also looking into the case.

In March, GM's South Korean union did not demand a pay rise and bonuses for the first time during annual wage talks, but instead asked it to provide a future production plan and job security.

© Reuters. FILE PHOTO: The main gate to GM Korea's Gunsan factory is seen in Gunsan

The firm has proposed a base wage freeze and no bonuses this year, besides a suspension of some worker benefits, including school tuition for employees' children.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.