[기업돋보기] Why did Ssangyong Motor,’fall into a swamp of debt’, shoot the industry’s eldest brother, Hyundai Mobis,’publicly’?

Hyundai Mobis·S&T Heavy Industries resumes supply of parts to Ssangyong Motors for’legal management application’ from the 29th

[오늘경제 = 최주혁 기자]

It is known that Hyundai Mobis and S&T Heavy Industries decided to resume supplying parts while Ssangyong Motor temporarily suspended the operation of the plant due to the refusal of supply to five major parts makers.

Ssangyong Motor, which has been driven to the edge of the cliff due to the refusal of supply from suppliers in response to the company’s rehabilitation application, plans to persuade the remaining three as soon as possible to resume production as soon as possible. This is because the factory cannot operate normally unless the remaining three parts supply parts.

According to the automobile industry on the 25th, Hyundai Mobis decided to supply headlamps to Ssangyong on the 29th after discussion on the 23rd, and informed Ssangyong Motors as such.

It is the first time Hyundai Mobis has made a decision to resume supply among the five major parts makers known to have refused to supply to Ssangyong Motor.

In the afternoon of that day, S&T Heavy Industries also reported to Ssangyong Motors that it would resume supplying parts from the 29th.

Ssangyong Motor, whose production was stopped due to a supply disruption in parts like this, is drawing attention to the background as parts makers announce their intention to resume delivery.

In a situation where Ssangyong Motor is already in a life-and-death situation due to a liquidity crisis, news that a large-sized parts maker first stopped supply and closed the factory door, and it seems that the criticism was formed around some consumers.

However, the opinion that the unconditional criticism of the company is inappropriate as the parts makers facing economic difficulties in the coronavirus also cast question marks on their ability to pay the parts price to Ssangyong Motors, who applied for corporate rehabilitation procedures, and notified their intention to refuse delivery. Got it.

On the 23rd, Ssangyong Motor Co., Ltd. had five major component manufacturers including Hyundai Mobis (headlamp), S&T Heavy Industries (axle assembly), LG Hausys (bumper), Borg Warner Ochang (T/C assembly), and Continental Automotive (combi meter). They rejected the delivery and “publicly” said that the production at the Pyeongtaek factory would be stopped for two days on the 24th and 28th, and the facts were shot.

Ssangyong Motor, who applied for corporate rehabilitation to the Seoul Rehabilitation Court in the face of a liquidity crisis on the 21st, raised the name of a supplier who refused to supply it to the surface and began to drive massive public opinion, even the intensity of the shock that the company is experiencing The analysis of the’dark move’ that represents the reality that it is difficult to do is gaining some strength.

Including the loss of profit due to the company’s rehabilitation application (financial institutions recovering loans before maturity for various reasons), a total of 255.3 billion won of loans has been overdue.

Ssangyong Motors said, “We are asking for active cooperation so that the efforts of all small and medium-sized suppliers and creditors are not wasted due to the refusal of supply by parts makers such as Hyundai Mobis.”

As the company has entered into the corporate rehabilitation (legal management) and autonomous restructuring support program (ARS) like this, it faces a crisis of production disruption, and the concerns of the labor union and partner parts makers are also deepening.

If Ssangyong Motor does not successfully negotiate a supply with these partners, parts makers are concerned about a domino crisis. Currently, it is estimated that a total of 600,000 employees and families of related companies such as Ssangyong Motor and its business partners.

In this regard, Ssangyong Motor’s union said in a statement on the 23rd, “I’m sorry that I applied for court management in 11 years following 2009,” but said, “If layoffs are carried out, I will never withdraw. The core policy of total employment security remains unchanged.” One-sided sacrifices should not be forced on workers,” he argued.

On the other hand, on the 21st, Ssangyong Motors applied for corporate rehabilitation procedures, and all executives even resigned.

Meanwhile, Ssangyong Motor’s president Ye Byung-tae held a meeting with the Ssangyong Motor Cooperative, consisting of 200 Ssangyong Motor parts suppliers, on the 22nd, and explained the background of the rehabilitation application and future plans.

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• “Debt pile” applied for rehabilitation Ssangyong Motor “Delinquent principle of loan of 255.3 billion won”

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