The South Korean industry minister says that the government will decide on whether to provide financial support for General Motors(GM) Korea after reviewing the automaker's plans on fresh investment and restructuring.

Trade, Industry and Energy Minister Paik Un-gyu made the remark to reporters on Tuesday at the government complex in Sejong City when asked about the possibility of the government providing support.

Paik said that he cannot make any commitments regarding a support plan as the automaker has not presented specific plans on its fresh investment.

He added that he plans to arrange a meeting with GM officials at an early date to discuss ways to minimize the fallout from the plant shutdown.

GM Korea announced on Tuesday that it would close its factory in Gunsan by May, which has been working at 20 percent of its capacity for the past three years.