Gwangju Global Motors Co. Ltd. (GGM) is a joint venture manufacturing plant between Hyundai Motor Company and the Gwangju city government. Opened in 2021, it is the first new automobile manufacturing plant in South Korea since 1998. The first model produced by the plant, the Hyundai Casper rolled off of GGM’s production line in September 2021.[3][4] The plant have the capacity to produce 70,000 vehicles a year.[5] It is the only Hyundai-operated manufacturing plant in South Korea without the presence of workers unions, which enables average annual pay to be less than half than other Hyundai plants.[6]
Gwangju Metropolitan Government is the largest shareholder with an investment of 48.3 billion won (21 percent stake). Hyundai Motor Company, which invested 43.7 billion won, is the second-largest shareholder (19 percent). Of the total project cost of 575.4 billion won, the remaining 60% (345.4 billion won) excluding equity capital of 230 billion won was drawn up from the financial sector.[7]
^"Gwangju project is off to an inauspicious start". Korea JoongAng Daily. 26 December 2019. Retrieved 2021-07-17.
^"Stranded Gwangju job project distresses Hyundai". The Korea Times. 2020-04-23. Retrieved 2021-07-17.
^"GGM, Korea's first car plant in decades, completed". Korea JoongAng Daily. 29 April 2021. Retrieved 2021-07-17.
^"Remarks by President Moon Jae-in at Dedication Ceremony of Gwangju Global Motors' Plant". english1.president.go.kr. Retrieved 2021-07-17.
^"Moon visits new car factory in Gwangju". The Korea Times. 2021-04-29. Retrieved 2021-07-17.
^"South Korea's first auto plant in 23 years opens as 'half-wage factory'". Nikkei Asia. Retrieved 2022-01-20.
^"3500억 조달 '빨간불'…광주글로벌모터스, 하반기 공사 중단 우려" ['Red light' to raise 350 billion won... Gwangju Global Motors fears that construction will be suspended in the second half of the year]. The Korea Economic Daily (in Korean). 2020-04-22. Retrieved 2021-07-17.
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gwangju, global, motors, joint, venture, manufacturing, plant, between, hyundai, motor, company, gwangju, city, government, opened, 2021, first, automobile, manufacturing, plant, south, korea, since, 1998, first, model, produced, plant, hyundai, casper, rolled. Gwangju Global Motors Co Ltd GGM is a joint venture manufacturing plant between Hyundai Motor Company and the Gwangju city government Opened in 2021 it is the first new automobile manufacturing plant in South Korea since 1998 The first model produced by the plant the Hyundai Casper rolled off of GGM s production line in September 2021 3 4 The plant have the capacity to produce 70 000 vehicles a year 5 It is the only Hyundai operated manufacturing plant in South Korea without the presence of workers unions which enables average annual pay to be less than half than other Hyundai plants 6 Gwangju Global Motors Co Ltd Native name광주글로벌모터스Company typeJoint ventureIndustryAutomotiveFounded2019 1 HeadquartersGwangju South KoreaKey peoplePark Gwang tae CEO OwnerGwangju Metropolitan Government 21 Hyundai Motor Company 19 2 Websitewww ggmotors com Gwangju Metropolitan Government is the largest shareholder with an investment of 48 3 billion won 21 percent stake Hyundai Motor Company which invested 43 7 billion won is the second largest shareholder 19 percent Of the total project cost of 575 4 billion won the remaining 60 345 4 billion won excluding equity capital of 230 billion won was drawn up from the financial sector 7 Current models editHyundai Casper 2021 present External links editOfficial website in Korean References edit Gwangju project is off to an inauspicious start Korea JoongAng Daily 26 December 2019 Retrieved 2021 07 17 Stranded Gwangju job project distresses Hyundai The Korea Times 2020 04 23 Retrieved 2021 07 17 GGM Korea s first car plant in decades completed Korea JoongAng Daily 29 April 2021 Retrieved 2021 07 17 Remarks by President Moon Jae in at Dedication Ceremony of Gwangju Global Motors Plant english1 president go kr Retrieved 2021 07 17 Moon visits new car factory in Gwangju The Korea Times 2021 04 29 Retrieved 2021 07 17 South Korea s first auto plant in 23 years opens as half wage factory Nikkei Asia Retrieved 2022 01 20 3500억 조달 빨간불 광주글로벌모터스 하반기 공사 중단 우려 Red light to raise 350 billion won Gwangju Global Motors fears that construction will be suspended in the second half of the year The Korea Economic Daily in Korean 2020 04 22 Retrieved 2021 07 17 nbsp This article about an automotive industry corporation or company is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Gwangju Global Motors amp oldid 1212058046, wikipedia, wiki, book, books, library,
