S Korean car giant is on verge of bankruptcy


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