Edison Motors seeks to acquire SsangYong by borrow a loan from KDB  

Edison Motors is seeking to ask for a loan from Korea Development Bank to acquire the troubled SsangYong Motor. The company is wanting to receive a loan of 700 billion to 800 billion won, as told by its chief executive officer.

Highlights

• Edison Motor...

S. KOREA’S AUTOMOBILE EXPORTS ROSE TO 53% IN APRIL

Highlights –

• S. Korea’s automobile exports rose to 53% in April.
• In April, S. Korea’s outbound shipments of automobiles reached 188,293 units.
• Hyundai Motor Co. saw its exports jump 40.3 percent in April.
• SsangY...

SSANGYONG MOTOR CO.’S INCREASING DEBT MAKES AUDIOTR REJECT FINANCIAL REPORTS

Highlights –

• SsangYong Motor Co.’s increasing debt makes auditor reject financial reports.
• Samjong KPMG questioned the automakers ability to continue its business.
• The SUV-focused automaker logged $398 million in operating loss ...

S. KOREA’S EXPORTS OF AUTOMOBILES INCREASE BY 35 PERCENT IN FEBRUARY

Highlights –

• S. Korea’s exports of automobiles increase by 35 percent in February.
• In February, outbound shipments of automobiles were 161,886 units.
• Hyundai saw overseas sales increase by 40.4 percent in terms of units.
...

SSANGYONG MOTOR CO. TO EXTEND SUSPENSION OF ITS LOCAL PLANT

Highlights –

• SsangYong Motor Co. to extend the suspension of its local plant.
• The extension comes due to a lack of parts from contractors.
• The troubled car company has received a two-month suspension to pay its debts to its creditors....

SSANGYONG MOTOR ANNOUNCES WAGE CUT FOR ITS EMPLOYEES FOR JAN. AND FEB.

Highlights –

• SsangYong Motor announces wage cut for its employees for Jan. and Feb.
• The car company is struggling with court receivership.
• The company’s vehicle sales in 2020 fell 19 percent to 107,324 units.
• Under So...

SSANGYONG MOTOR’S UNION ASKED TO COOPERATE IN REHABILITATION, BUSINESS TURNAROUND

Highlights –

• SsangYong Motor’s union asked to cooperate in rehabilitation, business turnaround.
• The creditor bank for the automaking company has asked for the same.
• The creditors will not give the company any money if the union ...

SSANGYONG MOTOR CO. FILED FOR COURT RECEIVERSHIP; UNDER OVERDUE DEBTS

Highlights –

• SsangYong Motor Co. filed for court receivership; under overdue debts.
• SsangYong Motor Co. has overdue debts of 100 billion won from financial institutions.
• KDB and other creditors of SsangYong Motor did not approve the r...

M&M TO DIVEST STAKE IN SSANGYONG AND FOCUS ON FARM EQUIPMENT

• M&M distress acquisitions predominantly never paid off. Foreign acquisition losses amounted to 1102 crore in FY18 jumping to INR 5257 crore in FY 20.
• In contrast, the Farm Equipment Business which has only been funded with a mere 10% of its capital makes for 60% of its tota...

SOUTH KOREA'S SSANGYONG MOTOR TRYING TO FIND POSSIBLE BUYER

HIGHLIGHTS

• Mahindra and Mahindra, the majority owner of SsangYong Motor have decided to give up its stake in the loss-making company.
• Some Chinese companies are interested in buying SsangYong Motor.
• SsangYong worked with Samsung Securities ...

A REVIEW OF SSANGYONG KORANDO

A REVIEW OF SSANGYONG KORANDO

Highlights:

• The SsangYong Korando which is a cheesy acronym of “Korea Can Do” has come a long way.
• From its beginning, it is licensed Jeep CJ7 and now a low budget SUV.
• Ss...

SSANGYONG STRUGGLE TO ENTER FAST LANE

Highlights:

• SsangYong, the Korean SUV maker has experienced loss every year except for 2016.
• M&M says that it will inject 500 bn won into the unit via third party funding.
• In leu, SsangYong will lend M&M valuable platforms that the ...

CORONAVIRUS AFFECTED THE SOUTH KOREAN AUTOMAKERS

Highlights:

• China plays a big role in the global supply chain, it has a huge footprint in the auto industry.
• SsangYong Motor is the first automaker to be affected by the virus.
• The Chinese government has extended the Lunar New Year holiday ...

Mahindra may increase funds for loss-making Korean company

A specialist of the sports utility vehicle Mahindra & Mahindra (M&M) might be working to increase funding for SsangYong Motor Company (SYMC) which is basically the South Korean subsidiary for helping it return to profitability.

The company is reportedly considering a capital inj...

SSANGYONG WILL JOIN MAHINDRA-FORD ALLIANCE

Highlights:

• Mahindra-Ford alliance will join SsangYong Motor Company to build mid-size SUVs.
• Both the B (B772) and C segment SUVs (W601), will be shared by SsangYong Motor Company.
• SsangYong Motor Company has seen a slump of more than 5% th...