Regarding the issue of Ssangyong Motors, which is promoting the P plan (short-term court management) on the 15th, Lee Dong-geol, chairman of the Korea Development Bank, said, “Ssangyong Motor’s labor and management will be a potential investor (HAAH Automotive) and active negotiations,” he said.
Chairman Lee said at the briefing session on the corporate restructuring system that was held online on the same day, and stressed that “we must bring out something (by negotiation) and ask the KDB and the government to help with it.”
Chairman Lee said, “Recently, I think I’ve been working hard, but Ssangyong’s labor and management still feel comfortable in my opinion.”
He said about Ssangyong’s P plan, “It’s not going smoothly,” he said. “Potential investors seem to judge that Ssangyong’s management environment is much worse and more serious than expected.
That’s why we haven’t been able to make a final decision on whether to invest in Ssangyong Motor.”
He added, “Saneun and Ssangyong Motors are encouraging potential investors to make quick decisions,” he added. “It is impossible to predict what will happen to the negotiation process in the future, and that there is neither pessimism nor optimism.”
Chairman Lee said, “Some of the KDB asks you to put in the money first, but there are no investors, but you cannot put it first.” “We plan to provide funding according to the result of verification.”
Chairman Lee said, “If the business is good, there is a willingness to provide financing in the form of a partial loan, but the prerequisite is that sustainable business is secured.”
Chairman Lee also mentioned Ssangyong Motor, the labor union, major shareholder Mahindra, business partners, and creditors including foreigners as stakeholders, emphasizing that “all stakeholders need to share unprecedented pain.”
/yunhap news
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