SSANGYONG MOTOR CO. FILED FOR COURT RECEIVERSHIP; UNDER OVERDUE DEBTS

Highlights –

• SsangYong Motor Co. filed for court receivership; under overdue debts.
• SsangYong Motor Co. has overdue debts of 100 billion won from financial institutions.
• KDB and other creditors of SsangYong Motor did not approve the request for loan rollover.
• The company has received a 3-month suspension of its obligation to pay its debt.

South Korean u....