The state-run Korea Development Bank (KDB) will begin its due diligence on the Korean operation of United States automaker General Motors later this week.
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The bank, which holds a 17 percent stake in GM Korea, said on Sunday that a thorough due diligence review will begin later this week to assess the conditions of the ailing automaker.
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An official familiar with negotiations with GM said that KDB and GM Korea are now fine-tuning the wording of a bilateral agreement on the due diligence.
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The bank is reportedly seeking to contain in the agreement rights to request documents and information for the due diligence in order to carry out a strict and thorough review before deciding on a state support package for the ailing automaker.
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The due diligence is likely to wrap-up around late March or April.
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After reviewing the due diligence's results, the government plans to decide on whether to provide financial support for GM Korea.