Ssangyong shuts down with hundred billion debt
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Korea’s smallest manufacturer, which had a strong collaboration with Mercedes Benz, (salvaging all the latter’s old technology), and was always at the ‘forefront’ of automotive design; with notable examples such as the Ssangyong Actyon coupe SUV that debuted almost 2 years ahead of the ‘World’s First’ Coupe SUV.
It’s now confirmed that Ssangyong had packed up, amidst the increasingly difficult financial turmoil, with 100 billion WON in debt ($77 million USD), Ssangyong was unable to clear even December’s payroll, and to halt all operations by shutting down its manufacturing plants.
Continue to read: Ssangyong shuts down with hundred billion debt
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