CEO Ye Byeong-tae of Ssangyong Motor Meets Dealership Owners: "Market Anxiety Will Be Alleviated Through Management Innovation"

Held 'CEO Meeting' with Metropolitan Area Dealership Representatives on the 20th

President Ye Byeong-tae of Ssangyong Motor (center in the photo) met with the metropolitan area dealership council at the Seoul office on the 20th to share the company's status and strengthen win-win cooperation. (Photo by Ssangyong Motor)

[Asia Economy Reporter Kim Ji-hee] Yes Byeong-tae, CEO of SsangYong Motor, met with representatives of dealerships in the Seoul metropolitan area on the 20th to share the current management status amid the COVID-19 pandemic and stated, "Since the management reform efforts are progressing smoothly, market concerns will also be alleviated."

According to SsangYong Motor on the 22nd, CEO Yes held a CEO meeting on the 20th at the Seoul office, inviting the dealership council composed of representatives from metropolitan area dealerships. The meeting was attended by CEO Yes and executives from SsangYong Motor’s domestic sales headquarters to build consensus on the current situation and discuss cooperation measures.

The dealership representatives reported, "Due to COVID-19, consumer sentiment has weakened significantly, and the number of visitors to dealerships has drastically decreased."

In response, CEO Yes said, "We are closely cooperating with labor unions and parts suppliers to ensure there are no disruptions in production, after-sales service, and all other areas, while establishing special measures and systems for customers," urging, "Please make efforts to increase sales." He added, "Although the automotive industry and global companies are facing difficulties due to COVID-19, the market concerns will be alleviated as the major shareholder Mahindra provides a new fund injection of 40 billion KRW, liquidity is secured through the sale of non-core assets such as the Busan logistics center, and management reform efforts aimed at securing future competitiveness are underway."

Starting with this meeting with metropolitan area dealership representatives, SsangYong Motor plans to sequentially hold regional dealership council meetings and discussions to strengthen win-win cooperative relationships with stakeholders. Additionally, the company plans to accelerate management reform and normalization through self-rescue plans.

This content was produced with the assistance of AI translation services.