General Motors' South Korean unit and its labor union failed to reach a wage deal by Friday, breaching a deadline set by the U.S. automaker to seek bankruptcy protection for the loss-making unit.
A source familiar with the matter said GM Korea will hold a board meeting at around 8 p.m. local time on Friday to discuss filing for a court-led rehabilitation.
But a union official said in a text message that the two sides will continue talking until Monday afternoon.
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