April 21, 2018 / 1:55 AM / a year ago

South Korea will consider injecting funds into GM Korea for investment: Yonhap

FILE PHOTO: The logo of GM Korea is seen at its Bupyeong plant in Incheon, South Korea March 29, 2018. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - South Korea’s government will consider injecting fresh funds into the loss-making South Korean unit of General Motors Co (GM.N), 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.

Reporting by Cynthia Kim; Editing by Robert Birsel

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