Korea’s Ssangyong asks Chinese parent for help

“We desperately need massive new capital because debts will mature in April next year,” Ssangyong’s chief executive Choi Hyyung-Tak was quoted as saying in a labor union newsletter.

Choi warned that Ssangyong would face “a critical period” early next year, citing around 100 billion won (68.3 million dollars) in losses in the first nine months of this year.

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