SEOUL, April 26 (Reuters) - General Motors Co’s president said on Thursday that it was very close to a resolution to fix its ailing South Korean unit.
“Over the last few months, over the last few weeks a lot of very good progress has been made,” GM President Dan Ammann said in a meeting with South Korean ruling party lawmakers.
On Monday, the Detroit carmaker reached a preliminary deal with its South Korean labour union, winning concessions on pay and bonuses. That led the company to drop a plan to consider filing for bankruptcy. (Reporting by Jane Chung; writing by Ju-min Park; Editing by Edwina Gibbs)