South Korea’s Moon describes GM factory shutdown as blow to regional economy

South Korean President Moon Jae-in said on Monday that General Motors’ (GM.N) decision to shut down a factory south of Seoul would be a blow to the region and asked relevant government ministries to take measures to shore-up economic-activity there.

GM announced last week it would shut the plant in Gunsan, in South Korea’s southwest, by May and decide within weeks on the fate of the remaining three plants in the country.

Moon also asked his government to act sternly in trade talks with the United States, expressing worry over curbs on imports from other countries recently imposed by Washington.