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Doomed Automaker

Posted January. 10, 2009 06:53,   


Ssangyong Motor files for court protection from creditors yesterday due to its worsening cash crisis. The company`s union convened an emergency meeting at Ssangyong`s factory in Pyeongtaek, Gyeonggi Province. The union criticized Shanghai Automotive Industry Corp. of China, the largest shareholder of Korea`s smallest carmaker, for the insolvency.