KDB to sign IFA with GM on Thursday to help local unit stay afloat
- 6 years ago
General Motors and the state-run Korea Development Bank will sign an initial funding agreement by Thursday morning,... to help GM's local unit keep its head above water.
As part of the agreement, KDB will loan 464 million U.S. dollars to GM Korea.
GM will produce two new models in Korea from late 2019 as part of a two-point-eight billion dollar investment over the next decade, but there are still concerns over the long-term viability of GM Korea's operations.
The agreement will come a day earlier than expected,.. as GM's first quarter's earnings Conference will take place later on Thursday in the U.S.
As part of the agreement, KDB will loan 464 million U.S. dollars to GM Korea.
GM will produce two new models in Korea from late 2019 as part of a two-point-eight billion dollar investment over the next decade, but there are still concerns over the long-term viability of GM Korea's operations.
The agreement will come a day earlier than expected,.. as GM's first quarter's earnings Conference will take place later on Thursday in the U.S.