The fate of Ssangyong Motor in the hands of the mountain… GM and Renault Samsung are also opaque
[앵커]
Ssangyong Motors, which is pursuing short-term court management and P plan applications, is truly standing on the edge of a cliff.
I have no choice but to wait for the Korea Development Bank’s decision to apply.
Ssangyong is in crisis right now, but GM Korea and Renault Samsung, whose major shareholders are also foreign capital, are becoming increasingly uncertain.
This is Na Gyeong-ryul reporter.
[기자]
Ssangyong Motor has decided to enter a short-term court management, P plan with US automobile distributor HAAH, a new candidate for acquisition.
HAAH plans to participate in the capital increase of about 250 million dollars and 280 billion won in late April.
But there are conditions.
It means that the Korea Development Bank should provide similar support to its own investment.
From applying for a P plan to receiving a new investment, KDB’s decision was doomed.
Ssangyong Motor’s partner companies facing bankruptcy are also urging KDB to provide prompt support.
It can’t last until April when new funds come in.
The crisis is the same for GM Korea and Renault Samsung.
GM Korea is in deficit after 7 years and Renault Samsung has turned to deficit in 8 years.
The future situation is also not bright.
In the US, GM, which has said it will stop producing internal combustion locomotives by 2035, is not allocating electric vehicle production to GM Korea.
At Renault Samsung, the union voted against the strike against the company that received hopeful retirement for all executives and staff members without completing the agreement last year.
“The problem is that production efficiency is poor. In the case of GM or Renault at the headquarters, if the volume is not allocated… or if the labor-management negotiations are actively conducted to increase production efficiency…”
As it is difficult to normalize the business right now, it is said that we are not ready to overcome the bigger wave because we cannot afford to respond to the fast-paced future automobile industry.
Yonhap News TV article inquiries and reports: katok/line jebo23
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