SsangYong Motor’s connected system dubbed Infoconn is helping the carmaker win over tech-savvy Korean customers
SsangYong Motor's auditors have refused to sign off on the carmaker's half-year report, increasing the risk that the company could be delisted if the issue isn't resolved by the end of the year.
SsangYong Motor continued to make a loss in the second quarter despite the automaker’s all-out effort to turn a profit by cutting down labor costs and downsizing welfare expenses.
The main creditor bank of SsangYong Motor on Monday rolled over the carmaker's 90 billion won ($7.5 million) worth of debt maturing this month to help it stay afloat amid the new coronavirus outbreak.
Korea Development Bank (KDB) has refused to throw SsangYong Motor the lifeline it desperately needs, pushing the cash-strapped company one step closer to its second restructuring in just over a decade.
The government on Monday announced a 300-billion-won ($248 million) loan guarantee program for small- and medium-sized companies in the automotive industry with low credit ratings. Hyundai Motor will chip in 10 billion won.
Beleaguered SsangYong Motor managed to secure more liquidity by selling one of its service centers in Seoul.
SsangYong Motor's auditors have refused to sign off on the carmaker's quarterly report citing “uncertainty about the company’s existence in the future.” “The company’s quarterly financial statement has been made under the premise