Ssangyong Motor’s 350 small and medium-sized business partners, “160,000 employees unemployment crisis”
Resumption of temporary delivery to LG Hausys
(Seoul = Yonhap News) Reporter Kwon Hee-won = Ssangyong Motor’s 350 small and medium-sized parts suppliers appealed to a conglomerate parts maker, which is refusing to supply, “Please resume the supply of parts and strive to normalize Ssangyong’s management.”
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On the 30th, the Ssangyong Motor Association, which is composed of Ssangyong Motor’s partners, issued a’Ssangyong Motor Business Partner’s Appeal for the Normalization of Ssangyong Motor’ And ask for support,” he said.
Suppliers said, “Some large companies and foreign parts suppliers refused to supply parts due to rehabilitation procedures, so Ssangyong Motor is facing a crisis of production disruption.” I am being driven into a crisis,” he appealed.
The partners urged the government and the people to support and support the government and the people in the crisis and pledged, “Our partners will always cooperate with the national policy and revitalization of Ssangyong as a member of the national automobile industry.”
(Pyeongtaek = Yonhap News) Reporter Kiwon Hong = The front door of Ssangyong Motor’s Pyeongtaek factory in Pyeongtaek, Gyeonggi-do on the afternoon of the 21st when Ssangyong Motor applied for corporate rehabilitation procedures to the Seoul Rehabilitation Court. 2020.12.21 [email protected]
The Ssangyong Motors Association sent an official letter to its member companies the day before and urged them to continue supplying parts, saying, “We must trust Ssangyong Motor and help rehabilitation with delivery and patience.”
After Ssangyong Motor’s application for corporate rehabilitation, the cooperative association plans to actively cooperate in stable delivery and management stability by switching to the emergency response committee system.
In an official letter, the cooperative said, “We decided to receive 50% of the bills due in December in cash on the 29th and 30th of this month,” and emphasized, “We have been promised from Ssangyong Motor that the remaining amount will be paid sequentially.”
In addition, he said, “It is best for Ssangyong Motors to find a new competent owner as soon as possible to conduct stable business activities in order to maintain employment and sustain management of former cooperative members.
Previously, Ssangyong was Hyundai Mobis[012330](Head lamp) and S&T Heavy Industries (axle assembly), LG Hausys[108670](Bumper), Borg Warner Ochang (T/C assembly), Continental Automotive (combi meter), etc.
Among them, Hyundai Mobis and S&T Heavy Industries resumed supplying parts from the 29th, and LG Hausys is also known to temporarily resume supply and continue discussions with Ssangyong Motor.
Ssangyong Motor is also in discussions with foreign parts makers Bog Warner Ochang and Continental Automotive to resume delivery.
However, as not only large suppliers but also some mid-sized companies have stopped supplying, it may be difficult to operate the factory immediately even if large-sized parts makers resume supply.
It is reported that the partners are questioning Ssangyong Motor’s ability to pay, notifying the suspension of delivery, and requesting cash payments for the goods that have already been delivered.
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Ssangyong Motor is planning to operate the plant normally by the end of the year after receiving inventory from parts makers under discussion. However, it is still unclear whether the plant will operate in the new year.
Meanwhile, Ssangyong Motor’s president Ye Byung-tae said at a meeting with the union on the 22nd, “The reason the sale is slow is due to India’s regulations.”
Ssangyong Motors union chairman Jeong Il-kwon also announced in the union newsletter the day before, “Through the ARS program, we will draw a quick agreement between the four parties, including the major shareholder Mahindra and investors, and the union and management.”
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2020/12/30 17:16 sent