South Korea will consider injecting funds into GM Korea

An employee works at an assembly line of GM Korea’s Bupyeong plant in Incheon. (Reuters Pic)

SEOUL: South Korea’s government will consider injecting fresh funds into the loss-making South Korean unit of General Motors Co, the Yonhap news agency reported on Saturday, citing the finance minister.

The minister, Kim Dong-yeon, told reporters in Washington on the sidelines of a G20 finance ministers and central bank governors meeting, any injection of fresh public funds would not be aimed at repaying debt incurred by the carmaker.

“We can consider injecting new money if it’s about fresh, rationale investment instead,” the minister said.