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Mar 14, 2018

South Korea says it will offer short-term loans to GM Korea amid 'cash crisis'

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SEOUL - South Korea's state-run Korea Development Bank said on Wednesday it would provide short-term loans to General Motors' (GM.N) South Korean unit after April, should the company cooperate with due diligence.

The two sides have agreed that the due diligence, which started in earnest on Wednesday, would continue for two months, the KDB said in a statement.

GM Korea has previously said that without new funding from its major shareholders it would have a first-quarter "cash crisis".