GM Korea's board delays decision on bankruptcy filing to Monday: sources

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April 20, 2018 6:10 AM EDT

FILE PHOTO: The logo of GM Korea is seen at its Bupyeong plant in Incheon, South Korea March 29, 2018. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - The board of General Motors' (NYSE: GM) South Korean unit delayed its decision on filing for court-led rehabilitation proceedings to Monday, said two sources familiar with the situation.

GM Korea was not immediately reachable for comment.

The company and its union failed to reach a wage deal by Friday, breaching a deadline previously set by the U.S. automaker to seek bankruptcy protection for the loss-making unit.

(Reporting by Hyunjoo Jin; Writing by Ju-min Park; Editing by Robert Birsel)


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