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.”