'Walking March' Ssangyong Motor Union Submits Petition to National Assembly: "Please Support Normalization"

The Ssangyong Motor Union, which marched on foot from Pyeongtaek, Gyeonggi-do, where the Ssangyong Motor headquarters is located, arrived at the National Assembly on the 20th and submitted a "Petition for the Normalization of Ssangyong Motor."
/Photo by Lee Ki-min victor.lee@

[Asia Economy Reporter Ki-min Lee] The labor union of Ssangyong Motor, which is undergoing corporate rehabilitation procedures, has once again appealed to the government and political circles for support to expedite the early normalization of Ssangyong Motor.

At around 11 a.m. that day, the Ssangyong Motor labor union met with Hong Gi-won, a member of the Democratic Party of Korea (Pyeongtaek Gap), and Yoo Ui-dong, a member of the People Power Party (Pyeongtaek Eul), at the National Assembly located in Yeouido-dong, Seoul, and submitted a petition to Song Young-gil, leader of the Democratic Party, and Kim Ki-hyun, acting leader and floor leader of the People Power Party. The petition included demands that government financial support, such as new loans, must precede new car development and the swift conclusion of corporate rehabilitation.

Before submitting the petition, the union held an interview with reporters. Jeong Il-gwon, the union chairman, said, "Ssangyong Motor is undergoing its second court receivership, and there were mistakes by the major shareholders and management. However, as the union chairman, I reflected on whether there were parts I should take responsibility for. We will normalize Ssangyong Motor and repay the public with good cars and quality," he appealed.

Regarding the lead creditor, the Korea Development Bank’s demand for proactive self-help efforts from the union, he said, "We have implemented proactive self-help measures for 10 years, including 150 billion won in self-help efforts, redeployment, production efficiency improvements, and wage freezes, even without the creditors' demands. If the company faces difficulties and proactive self-help plans are required in the future, we will accept them, but it is not right to shift responsibility onto the employees," he stated.

On the possibility of personnel restructuring, he countered, "Can a company succeed by cutting people? During the 2009 Ssangyong Motor crisis, 2,642 people left. Even after 10 years, it is wrong to shift all responsibility onto the workers," he argued.

Representative Hong Gi-won also appeared at the press conference, saying, "We will do our best to save Ssangyong Motor," and added, "We are working on laying the foundation for normalization so that parts supply from partner companies continues, production is sustained, and sales proceed." He continued, "Unlike in the past, the labor union is cooperating fully to save Ssangyong Motor, and it seems that the labor-management cooperative relationship will be maintained until normalization is achieved."

Earlier, on the 17th, the union started a walking march in Pyeongtaek, Gyeonggi Province, where Ssangyong Motor’s headquarters is located, and after stopping by Suwon and Anyang, they conducted a public campaign before arriving at the National Assembly that day.

According to industry sources, Ssangyong Motor is expected to officially begin the sale process soon. Jeong Yong-won, the court-appointed manager of Ssangyong Motor, recently sent an email to all employees explaining that the selection of a sales agent for mergers and acquisitions (M&A) and the announcement of the bidding for the sale have begun, with a bidding announcement planned for the first half of the year.

While HAAH Automotive from the United States, the preferred negotiation partner, is expected to participate in the bidding, companies such as K-Pop Motors, Park Seok-jeon & Company, and Edison Motors have expressed their intention to acquire Ssangyong Motor and transform it into an electric vehicle manufacturing company. However, although companies have officially expressed their intention to acquire, securing the investment funds amounting to at least 250 billion won remains a key issue.

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