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GM to close plant in South Korea in restructuring

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As it restructures its operations, General Motors plans to close a Gunsan, South Korea, plant.

GM indicated in a statement the company is working with its labor union and other stakeholders to make other investments in South Korea to save jobs.

"As we are at a critical juncture of needing to make product allocation decisions, the ongoing discussions must demonstrate significant progress by the end of February, when GM will make important decisions on next steps," said Barry Engle, GM executive vice president and president of GM International, in a statement.

Read more from The Associated Press.

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