General Motors(GM) Korea has dismissed speculation that the U.S. automaker plans to close its South Korean office.

In a media event at GM Korea headquarters in Bupyeong in Incheon on Wednesday, GM Korea President Kaher Kazem unveiled the comapny's new design center built in the west coastal city.  

Kazem said GM Korea is an important axis for the U.S. carmaker’s global business in terms of production, design and research and development, adding its decision to build a design center in South Korea proves the South Korean branch's competitiveness and competence.

Noting GM is pursuing profits based on a long-term plan, the CEO said South Korea is one of the optimal markets where GM has been doing businesses in terms of growth potential.