GM Daewoo Likely to Repay KDB Loans Fri.
GM Daewoo Auto and Technology is likely to pay off on Friday the loans it has received from the Korea Development Bank (KDB).
A KDB official said that a loan of 125-point-eight billion won that matures on Friday is likely to be paid off by the South Korean branch of the U.S. automaker General Motors, as the auto firm has not asked for an extension of the maturity date.
The official said GM is choosing to pay off the loans due to improved financial conditions resulting from increased sales.
The official added that the automaker is also seeking to discuss with KDB officials other means of stabilizing its financial soundness.
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