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Exclusive: South Korea's KDB eyeing deal by April 27 to inject funds into GM Korea

Reuters  |  SEOUL 

By Hyunjoo Jin and Ju-min ParkSEOUL (Reuters) - Korea Development Bank (KDB) plans to sign a preliminary deal by April 27 to financially support General Motors' troubled South Korean unit, provided interim due-diligence on the unit is satisfactory, the chairman of state-run KDB said on Tuesday.GM proposed in February an investment of $2.8 billion into its loss-making South Korean operations over 10 years, days after announcing a sweeping overhaul. It has asked Seoul to provide its share of the funds for the restructuring.The U.S. automaker owns 77 percent of its South Korean unit, GM Korea, ...

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First Published: Tue, April 17 2018. 12:55 IST