General Daewoo factories will move to China and India

A few days ago, Lee Hyun, Sales Minister of Daewoo Motor headquarters revealed that prices, wages and other production costs are too high in South Korea. It exceeded 20% compared to that of China; GE Daewoo considers the relocation of factories in China and India.

Lee Hyun said: "The technology gap of auto assembling between the two nations is less than three years. So, it is feasible to consider the plan of relocate into China and India and then re-export to Korea in 2010."

General Motor Daewoo is steadily pushing forward the program to move Matiz production factories to China in 2010; in addition, it also plans to relocate medium-sized automobile production factories to China, India and other low-cost countries.