South Korean President Moon Jae-in is in a bind.

Either he risks losing political capital and thousands of high-paying jobs if General Motors cuts its presence in South Korea, or he faces a public backlash if he uses taxpayer money as a lifeline for the U.S. automaker.

Last week, GM announced it would shut down a factory in Gunsan, southwest of Seoul, and said it was mulling the fate of its three remaining plants in South Korea. It wants help from the government to restructure and keep the plants operating.