Ssangyong between bankruptcy

Would it be too late Ssangyong? Shanghai Automotive Industry Corp (SAIC) did not seem more Ssangyong Motor Co., with the company to avoid bankruptcy. SAIC holds a stake of 51% of Ssangyong, but has refused to exploit the rights in an attempt to prevent the execution and Ssangyong, the time to get back into the darkness. The Korean manufacturer Chief Executive of Zhang Hai Tao and President Choi Hyung-Tak both resigned after the presentation.

Sun recently that in a few days, at SAIC, he said to make Ssangyong, but apparently has changed. Since sales of vehicles fell 50% a very large, the money is solid. With the global credit crisis was obviously not to pay the workers and the negotiations with the union goes nowhere fast. This agreement protects Ssangyong creditors payments and maintains that the bankruptcy, so that from time to time back on its feet. For his part, the SAIC, said that "with all interested parties to enable them to plan for Ssangyong operation to normal.