Ssangyong Motor is on paid leave due to management difficulties after all of its labor and management returned to work in 2019 to faithfully implement social agreements
It announced on the 24th that it has agreed to deploy those who are reinstated from their jobs as of May 1st.
Ssangyong’s labor and management agreed on measures to reform management, including suspension and reduction of welfare, in September last year to secure future competitiveness, and all employees’ wages in December
and laid-off workers who have been reinstated at a time when high-intensity management reform measures such as returning bonuses and implementing the office rotation sabbatical (paid leave) are being pursued
It was also converted to paid leave (70% of ordinary wages) accordingly.
As these measures to strengthen corporate competitiveness are carried out smoothly, representatives of the four parties (Ssangyong Motor, Ssangyong Motor’s labor union,
Ssangyong Motor Branch of the Korean Metal Workers’ Union, the Presidential Committee on Economic, Social and Labor) received its first award on the 21st of last month to resolve the issue of reinstated workers
Since holding the Living Development Committee, the plan has been discussed through three additional discussions.
As labor and management reached a final agreement after four win-win development committees, 46 paid leave workers will be assigned to departments as of May 1st and two months
On the Job Training (OJT) and work training between Gan will be conducted on July 1st.
Ssangyong Motor announced on the 17th that Rexton Sports has surpassed 40,000 units in domestic sales for the second consecutive year.
Rexton Sports (including Cannes) sold 41,717 units in 2018 and 41,328 units in 2019, reaching 40,000 units for the second consecutive year
Rexton Sports, which was launched in January 2018, surpassed 2,500 units in four days of pre-contracting and 20,000 domestic sales in six months of its launch
It led to the growth of domestic demand.
Rexton Sports has the unique style of ‘the only open SUV in Korea’ and introduces G4 Rexton’s premium interior and convenience items
While sharing, it attracted attention for its excellent economic feasibility such as reasonable sales price and low automobile tax (28,500 won). In January 2019, enemy
It has expanded its choices by launching the long-body version of the Rexton Sports Khan, which greatly improves its talent. In addition, it has a maximum loading weight of 700 kg
(Powerleaf suspension), differential gear locking (LD) that improves driving and towing capabilities in a variety of environments
Differential) application has given infinite possibility of change to lifestyle.
According to local media such as the Economic Times and Mint on the 12th, President Pawan Goenka said in Mumbai the day before, “We have secured related funds by the end of March.”
I hope so,” he said.
President Koenka said, “We will put 300 billion won into Ssangyong Motor’s operating funds and use the rest to repay existing debts.”
He said the funds will be raised through existing assets and new loans, adding, “Through this, Ssangyong Motor, which is in the red, will lose money from this year.”
“We will significantly reduce it, and we will reach a profit or loss balance in 2022,” he added.
In addition, Mahindra is expected to attract equity investments from other automakers.
However, Goenka did not specifically mention the size of Mahindra’s direct investment.
Earlier, during his visit to Korea last month, Koenka said that he would succeed in turning a surplus in three years through global partnerships with Ford
He had asked the government for support. He reportedly announced a direct investment plan worth 230 billion won at the time.
Ssangyong explained that Koenka’s remarks were the same as what he said during his visit to Korea last month.
An official of Ssangyong Motor said, “The 500 billion won needed to normalize Ssangyong by 2022 is about 230 billion won in Mahindra investment, as already stated,
Ssangyong Motor’s labor-management self-rescue efforts will raise more than 100 billion won and the sale of non-business land, and the insufficient amount will need support from the Korea Development Bank
It’s for the purpose,” he said.
Currently, Ssangyong Motor is very difficult to manage due to accumulated deficits.
After being acquired by Mahindra in 2011, Ssangyong succeeded in turning into a surplus for the first time in nine years in 2016 thanks to the popularity of Tivoli.
The G4 Rexton, which was released afterwards, also received a good response, but as profitability deteriorated due to increased depreciation costs, it returned to the red for the first time in a year
It turned around. Since then, the deficit has continued for 12 consecutive quarters.
Last year’s consolidated operating loss was KRW 281.9 billion, up 339.3% from the previous year. Sales were also 135,235 units, compared to the previous year
All fell by 5.6%.
Ssangyong Motor announced on the 10th that it will actively strengthen marketing in European markets such as Belgium, Germany, and the U.K. this year to expand exports.
Ssangyong Motor (1,890.00%) participated in the 2020 Brussels Motor Show held in Brussels, Belgium last month, displaying 14 vehicles and promoting them
The company moved to participate in the 2020 Vienna Auto Show in Vienna, Austria, and invited local dealers to meet sales targets
We discussed a plan for.
Expectations were high for the Korando CNG (compressed natural gas) model, which will go on sale in the first quarter. Korando gasoline (1.5 liters)
The Korando CNG applied to the Turbo) model is a bi-fuel type vehicle that uses both CNG and gasoline as fuel.
“Ssangyong Motors did quite well until the first quarter of last year, but the situation has worsened dramatically since then,” Goenka said.
He said, “The Korean automobile market is moving rapidly from diesel cars to gasoline cars, but Ssangyong is heavily dependent on diesel cars.”
He explained one reason for the poor management.
According to reports, Ssangyong Motor will increase sales through new export markets such as Russia and Vietnam as well as management reforms such as cost reduction
It is also receiving favorable reviews in the global market. The 2020 Pick of the Year was selected by the British four-wheel drive magazine “Four by Four” last month
The best pickup (£28,000) was also on the “2020 Car of the Year” released by the automobile magazine “What Car.”
(hereinafter referred to as ‘).
This agreement is made by Ssangyong Motor’s labor and management despite difficult conditions in the overall automobile industry, such as the supply and demand of parts due to COVID-19 from China
It was decided on a grand scale after much consideration to faithfully conclude the social consensus.
In 2018, CEO Roh Moo-hyun said