GM Korea to close one of its four factories in S. Korea after sales plunge

General Motors Korea says it'll be shutting down one of its four car assembly plants by the end of May -- the one in Gunsan -- due to a plunge in local sales. The Gunsan plant is the smallest of GM's local facilities.... and employs 15-hundred people.The automaker saw its sales in Korea fall more than 26 percent last year.Exports were also down 6 percent, and they account for the lion's share of sales.GM Korea says the drop in demand could be because of high per-unit manufacturing costs and low productivity at underutilized assembly plants. The company also hinted at further restructuring, saying that it may close more of its money-losing operations in Korea.