KDB launches due diligence on GM's troubled South Korean unit

Korea Development Bank (KDB) has launched due-diligence proceedings of General Motors' local unit to decide whether to provide funds for the unit's troubled operations. KDB hold a 17% stake in GM Korea. GM said last month it would shut one of its factories in South Korea and decide on the fate of the three remaining plants in the coming weeks, unless it received government support and wage concessions from unions.