Monday, April 26, 2021

Ssangyong Motors may shed some senior executive jobs as part of cost cutting

The Seoul Bankruptcy Court on April 15 approved the debt-rescheduling process for SsangYong Motor as the US-based HAAH Automotive did not submit an LoI by the March 31 deadline. Court receivership is one step short of bankruptcy in South Korea's legal system. In receivership, the court will decide whether and how to revive the company.

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