Industry Minister Paik Un-gyu has reaffirmed that the government cannot offer financial support to General Motors(GM) unless it presents its commitment to new investment.

In a news briefing in Sejong City on Monday, the minister said the automaker should address the lack of transparency in management.  

He said that there are several preconditions for providing financial support for the automaker, adding GM should present its commitment to improving management in the long-term. 

The minister said that providing incentives for foreign companies should be decided in consideration of the regulations of the World Trade Organization, suggesting that state support for GM Korea should be provided without violating international trade regulations.