Korea Development Bank (KDB) and Mahindra & Mahindra of India are at loggerheads over financial support for SsangYong Motor, which applied for a corporate rehabilitation process at the end of 2020.The court has allowed SsangYong Motor to undertake autonomous restructuring support (ARS) efforts until
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Domestic construction projects are expected to increase in 2021 thanks to a rise in private residential orders. Meanwhile, sluggish construction starts in 2018 and 2019 are limiting the number of
Despite the COVID-19 pandemic, automobile sales in Korea surpassed 1.6 million units in 2020, the first time in 18 years. This year, overseas sales are expected to rebound thanks to COVID-19 vaccines.Five Korea-based carmakers (Hyundai Motor, Kia Motors, Renault Samsung Motors, GM Korea and SsangYon
SsangYong Motor, part of India's Mahindra Group, announced on Jan. 4 that the company sold a total of 10,591 units in December 2020 -- 8,449 units in domestic sales and 2,142 in exports. The company’s monthly sales have maintained the level of 10,000 units for three consecutive months since Octo
India's Mahindra and Mahindra Ltd., the biggest shareholder of Korea’s SsangYong Motor, is in talks with an investor to sell its stake in the struggling Korean automaker by next month, the company’s managing director said in a news conference on Jan. 1.Pawan Kumar Goenka, who is also the chairma
The Seoul Bankruptcy Court approved an autonomous restructuring support program for SsangYong Motor on Dec. 28. The initiation or non-initiation of its corporate rehabilitation procedure will not be determined until Feb. 28 next year and the automaker now can negotiate with creditors for debt maturi
Mahindra & Mahindra applied for SsangYong Motor’s rehabilitation on Dec. 21. This sudden application is interpreted as brinkmanship based on the assumption that the Moon Jae-in administration, whose top priorities include stable employment, will not let more than 5,000 unionized workers walk out to
SsangYong Motor, which has recently applied for a debt-workout after defaulting on loans from banks, will suspend the operations of its Pyeongtaek plant on Dec. 24 and 28 due to its partners’ refusal to supply parts.The company said on Dec. 23 that its production lines at the Pyeongtaek plant have b
SsangYong Motor applied for corporate rehabilitation on Dec. 21 after having failed to repay 165 billion won to financial institutions due to its 15-quarter red ink. This is its second rehabilitation application after January 2009.The automaker applied for autonomous restructuring support, too. This
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Improving domestic construction industry conditions and rising cement prices bode well for the cement industry. However, going forward, greater use of waste for cement production should also bene
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. At a time when cement prices and shipments are likely to increase, investment in recycled resource treatment facilities is an opportunity to change the negative perception of the cement industry.
SsangYong Motor and GM Korea are showing contrasting performances in the same crisis and the difference is because of their diametrically opposite labor-management relations.SsangYong sold 11,859 cars last month, up 10.3 percent from a year ago and up 16.3 percent from the previous month. The worker
SsangYong Motor Co., part of India's Mahindra Group, announced on Dec. 1 that the company sold a total of 11,891 units in November 2020 – 9,270 units in domestic sales and 2,589 in exports.In November, SsangYong recorded its highest ever monthly sales this year again following October, exceeding
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. With domestic orders expanding in 2H20, Korean construction firms are likely to enjoy a healthy growth phase next year. Key factors boding well for such construction sector growth include: 1) thi
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Despite a decrease in cement shipments due to the prolonged monsoon season in 3Q20, OP met consensus thanks to the operation of a recycled resource treatment facility and a drop in bituminous coa
SsangYong Motor Co., part of India's Mahindra Group, announced on Nov. 2 that the company sold a total of 10,197 units in October 2020 – 7,612 units in domestic sales and 2,585 in exports.In October, SsangYong recorded the year's highest monthly sales, helped by sales uptrend in exports, exc
Unionized GM Korea workers decided on Oct. 29 to stage a partial strike. They paused their work for four hours on Oct. 30 and the same is scheduled for Nov. 2. In addition, they are going to halt their extra work until their wage negotiations and collective bargaining are finalized. Earlier, the man
SsangYong Motor announced on Oct. 27 that foreign government agencies have recently selected its vehicles as official cars in recognition of their excellence.The company signed a contract with the Fire Safety and Civil Protection Directorate General of Bulgaria on Sept. 25 to supply command vehicles
SsangYong Motor Co., part of India's Mahindra Group, announced on Oct. 26 that it sold 25,350 units, posted revenue of 705.7 billion won, an operating loss of 93.2 billion won, and a net loss of 102.4 billion won in the third quarter of 2020.The company's operating loss has decreased thanks
The domestic sales volumes of the five carmakers in South Korea totaled 138,530 vehicles last month, up 23.3 percent from a year ago.Hyundai increased its sales volume by 33.8 percent to 67,080 and Kia sold 51,211 cars to show a year-on-year increase of 21.9 percent. The Kia Carnival posted a sales