March 27, 2018 / 11:19 AM / 9 months ago

South Korea's due diligence on GM's local unit going 'smoothly': source

SEOUL (Reuters) - South Korea’s due diligence on General Motor’s local unit is “going smoothly” as the U.S. automaker has submitted a number of documents to help the process, a source with direct knowledge of the matter told Reuters on Tuesday.

This month, state-funded Korea Development Bank, GM Korea’s second-biggest shareholder, began a due diligence review to decide whether to inject more capital into the loss-making business.

Reporting by Shin-hyung Lee; writing by Hyunjoo Jin; editing by Jason Neely

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