S Korean car giant is on verge of bankruptcy

11:25 - 25.12.2020

December 25, Fineko/abc.az. South Korean car giant SsangYong is on the verge of bankruptcy.

ABC.AZ reports that the company has already filed for bankruptcy due to a loan debt of $55 million.

This is not the first time the company has faced a financial crisis. So, the Korean company encountered financial difficulties 10 years ago.

At that time Indian company Mahindra saved SsangYong from bankruptcy by buying from the company 75% of its shares.

By Elmir Murad

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