Ssangyong Motor to Halt Production on 25th-26th... Operating Only 3 Days This Month

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] Ssangyong Motor has decided to close its factory on the 25th and 26th of this month as well.

On the 24th, Ssangyong Motor announced that production would be halted on the 25th and 26th due to disruptions in the supply of parts caused by refusal from partner companies. Ssangyong Motor has only operated its factory for three days this month: the 1st-2nd and the 16th.

Previously, Ssangyong Motor had stopped production from the 3rd to the 5th and from the 8th to the 10th due to parts supply issues, and resumed production on the 16th after the Lunar New Year holiday. However, production stopped again from the 17th as parts inventory was depleted.

This is because some partner companies, mainly foreign parts suppliers, are refusing to deliver parts while demanding payment of outstanding balances and cash payments.

Ssangyong Motor stated that it plans to resume production on the 2nd of next month, but this remains uncertain. On the 19th, it also announced it would resume production on the 25th, but this was not fulfilled.

Including the upcoming suspension days, the total number of production suspension days since the company filed for corporate rehabilitation at the end of last year has increased to 16 business days.

Currently, Ssangyong Motor is negotiating with partner companies to resume production. Recently, domestic large corporation partners have shifted to a stance of resuming deliveries, but major foreign partner companies are reportedly maintaining a firm position.

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