General Motors(GM) has agreed with the South Korean government and the state-run Korea Development Bank(KDB) to inject more seven billion U.S. dollars into the troubled Korean unit of the U.S. automaker. 

KDB CEO Lee Dong-gull and GM President Dan Ammann reached the agreement to provide seven-point-15 billion dollars, or seven-point-seven trillion won, during a meeting in Seoul on Thursday. 

GM was known to have accepted the South Korean government’s preconditions for providing fresh funds into GM Korea, including maintaining the Korean unit for at least ten years and KDB having the right to veto the automaker’s major decisions, even if its shareholding falls below the current 17 percent through a possible debt-for-equity swap. 

Under the agreement, GM will inject six-point-four billion dollars into GM Korea, which is one-point-three billion dollars more than it previously promised. 

KDB also agreed to increase its financial support for GM Korea from 500 billion won to 810 billion won.