▲ The Korean Metal Workers' Union(KMWU) and an independent lawmaker, Rep. Yoon Jong-oh make it clear their opposition concerning the business spin-off of Erae Automotive through which Chinese capital attempts to acquire the stakes of Erae Automotive and to control the Korean auto industry at a press briefing held on April 11 at the National Assembly press conference room.(Korea Daily Labor News/Yon Yoon-jeong)

 

Erae Automotive(former Korea Delphi) is a company manufacturing automotive components and modules, and 60% of their products are supplied to GM Korea.

Erae Automotive is currently pursuing the restructuring plan through the business spin-off and stake sales and negotiating the investment from the Chinese capital. Concerns are raised that it might become another case of Ssangyong Motor which had gone through serious corporate crisis of restructuring and labor disputes for long due to the 'technology eat and run' by the Chinese capital.

reported by Je Jeong-nam
translated by Kim Sung-jin

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