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15.June.2021: KDB says SsangYong's turnaround plan may not cut it
The Korea Development Bank (KDB), the main creditor of beleaguered SsangYong Motor, questioned whether its latest turnaround plan is good enough to attract a buyer.
The KDB admitted that buyers with any genuine intention to invest in the carmaker are “very rare" at the moment.
“It is true that the latest turnaround plan proposed by SsangYong Motor has progressed compared to before, but a turnaround plan without a detailed business plan is not sufficient for the KDB to decide whether we can provide financial support,” said Lee Dong-gull, chairman of the KDB, at an online press conference on Monday.
Full Article: https://koreajoongangdaily.joins.com/2021/06/14/business/industry/ssangyong-motor/20210614190000528.html
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By Korea JoongAng DailyThe Korea Development Bank (KDB), the main creditor of beleaguered SsangYong Motor, questioned whether its latest turnaround plan is good enough to attract a buyer.
The KDB admitted that buyers with any genuine intention to invest in the carmaker are “very rare" at the moment.
“It is true that the latest turnaround plan proposed by SsangYong Motor has progressed compared to before, but a turnaround plan without a detailed business plan is not sufficient for the KDB to decide whether we can provide financial support,” said Lee Dong-gull, chairman of the KDB, at an online press conference on Monday.
Full Article: https://koreajoongangdaily.joins.com/2021/06/14/business/industry/ssangyong-motor/20210614190000528.html