GM Daewoo CEO Mark Arcamone being presented with the $8 Billion Export Tower.
Hard work pays off. Example: GM Daewoo received the $8 Billion Export Tower Award at 47th Trade Day ceremony. No, it’s not really a tower per se, and it’s not really worth $8 billion – but it’s prestigious nonetheless.
The award was presented to GM Daewoo President and CEO Mike Arcamone to recognize the company’s contribution to the South Korean economy, as GM Daewoo’s exports totaled around 1.42 million vehicles and complete knockdown (CKD) kits – which are essentially kits used to assemble a vehicle. That is an increase of 980,000 vehicles and CKDs from the time GM Daewoo began operations back in 2003.
“Aggressive investment in new products has been the driving force of increasing global demand for our products. We appreciate the support and effort of the Korean government in creating an investment-friendly environment and promoting exports,” said Arcamone. “We will continue to do our best to serve as an exemplary foreign-invested enterprise, creating a virtuous circle of investment and exports by concentrating on increasing profitability and reinvestment in the Korean market based on growing exports.”
Comments
Cant we make all GM products here in the USA????? Why, Ok let me give it to you in plain english. If I want to make more money in my business wouldnt it make more since to make it with the folks that live around the corner that getting an operation set up miles away. Just think about it.
Lance – GM’s South Korean operations supply vehicles for South Korea and Chevrolet for Europe. All of the GM vehicles currently sold in North America are manufactured in North America. This follows your idea of making “it with the folks that live around the corner”.
However, I’m concerned about your overly simplistic view of manufacturing strategy and operations. Sometimes, it’s much more profitable to manufacture a product on the other side of the globe… think about that!
Alex ,
Right now my main concern is getting Americans back to work, and as I do respect your point of view I do feel that we may have to get back to basics to get that dream to come true. Lets take the time of WW2 we HAD to manufacture all of the planes, bombs, etc to support that cause and look how that turned out. We won the war. I believe in GM and I feel that if I am to buy American, I want it American thru and thru.