What happened to SAIC which stole technology from SSangyong Options

[xentradi97]

you are a funny one. How many friends have you made here? Really utterly irrelevant at this stage.



investment, to you. I doubt Samsung needs INVESTORS, or Hyundai. THey have the Capital to make it on their own. the IMF forced the Korean chaebols access to foreign ownership. As a result profits can then be spread to Foreign owners, who did none of the work to actually engender Hyundai to greater heights.



You really don't know that much about Korean companies. I doubt you are working in international business. Hyundai, Samsung, and LG have the capital to invest abroad. they don't need Shareholders, foreign ones, eating up their profits. Secondly, in the Korean economic system, which is a UN based system. Korean governments and corporations have to request loans, in the term of a bond. I already went through this stuff before with you. You do not listen at all.




No they don't. Why don't you look at the Capital that Samsung has itself to invest. They don't need MORE investors, or foreign investing at all. YOu are quite delusional. And you don't know what you are talking about at all. Regarding, the ambitions of being a global player, well obviously, the IMF forced these rules upon Korean chaebols. Now Samsung, LG, Posco, Hyundai are expanding abroad. But remember, all of the money that these corporations make, Half of the profit will go to foreign shareholders. THat is the deal.


Probably, you don't know much about South KOrea, even emedding flat out BSing to make your impotent assertions.


You started the mud-slinging remember that. I have the right to counter-attack you measly superstitious presumptions.

Kind of interesting, since this thought seems to apply to you to a much greater degree.


okay.


Who's gonna be flaming me? Am I going down in flames? I think I understand Korean policy much greater than most Koreans. And quite frankly, I am fortunate to be open-minded enough to see the big picture.



honestly I could say the same thing to you. You are the one that said that you will stop responding, Well look who's the hypocrite here. YOu keep on responding, as though some mysterious force imbued your ego with a sense of alter-psycho superiority. Really calm down, this is just a chat.

If Samsung, LG and Hyundai don't need investment, why are their stocks being traded publicly not just in Korean exchange but other international exchanges (NY, London, Etc...?) ALL CORPORATIONS DO THIS. THEY ALL SEEK INVESTORS BOTH LOCAL AND FOREIGN. KOREAN COMPANIES AND FOREIGN COMPANIES. Do you know why corporation put their company list their stock in stock market in the first place? That right there, clearly indication that you have no basic knowledge in Economy and Corporate business, let alone business itself. You're a kid who has no real world experience but simply regurgitating other's idea and spitting it out. I'm done arguing with you. There's no point. It's like trying to talk math to a 5 year old still learning arithmetic. Go back to school kiddo.

[Joaharu]

If Samsung, LG and Hyundai don't need investment, why are their stocks being traded publicly not just in Korean exchange but other international exchanges (NY, London, Etc...?)

Due to IMF policies. Re-read and try to understand a little. Remember IMF policies forced companies to obtain foreign ownership, through stock exchanges like the KOSPI.

ALL CORPORATIONS DO THIS.

And this is important because?

THEY ALL SEEK INVESTORS BOTH LOCAL AND FOREIGN.

Who is they?

KOREAN COMPANIES AND FOREIGN COMPANIES.

Yeah, because of IMF policies you could say.

Do you know why corporation put their company list their stock in stock market in the first place?

Well, KOrea's chaebol's put their offering on the stock money due to IMF policies. Re-read the policies of the IMF, then get back to me.

That right there, clearly indication that you have no basic knowledge in Economy and Corporate business, let alone business itself.

I think you are talking about yourself, buddy.

You're a kid who has no real world experience but simply regurgitating other's idea and spitting it out.

How cute.

I'm done arguing with you.

You said this 3 threads ago? What I'm supossed to be in awe of your awesome knowledge?

There's no point.

There is really no point arguing with a ignoramous like yourself.

It's like trying to talk math to a 5 year old still learning arithmetic.

How, cute, more verbal diarrhea? your personal attacks are getting kind of tiresome.

Go back to school kiddo.
I suggest you properly rebut my points in a concise and factual manner. You sum up all of my points in a wayward, awkward fashion. Then adding some meek personal attacks to boost your savory ego-maniac. Please, save it, cuz this is getting kind of boring.

[Joaharu]

The Seoul Central District Court has overruled objections by creditors of South Korean carmaker Ssangyong Motor and granted its approval to the company's restructuring plan. This clears the way for the carmaker to begin 'normalizing' its operations, according to a company statement.

The main focus of the plan, and the cause for objection from Ssangyong's creditors, is the repayment of debt. Ssangyong has amassed debts of KRW1.2trn (US$1bn), but a number of its creditors rejected the repayment terms laid out in its restructuring plan filed to the court in September, which include swapping KRW378.5bn (US$321.4mn) for equity. The plan needs to be approved by 75% of creditors with collateral, two out of three without collateral and half of the company's shareholders, as well as the bankruptcy court. However, the court was able to overrule the objections, claiming that the plan met legal requirements and creditors' rights would be protected under it.

Another feature of the plan is the reduction of involvement by majority shareholder Shanghai Automotive Industry Corp (SAIC). The Chinese carmaker, which lost management control when Ssangyong entered bankruptcy, will have its stake reduced from 51.3% to 11.3% by January. Ssangyong's workers have largely blamed the Chinese parent company for poor management of the carmaker. Following Ssangyong's bankruptcy filing in February, unionised workers said in March that they planned to take legal action against SAIC for mismanagement. They were looking for compensation for damages, while also claiming that the lawsuit would secure complete separation from the Chinese company.

The SUV specialist is aiming to return to profitability within three years and triple sales in the same timeframe. This follows a net loss of KRW89.7bn (US$77mn) in Q309, compared with a loss of KRW28.1bn (US$24.1mn) in Q308, marking its eighth consecutive quarterly loss. In October, the company announced that it was in talks with potential foreign investors regarding an acquisition. Ssangyong's co-court receivership manager, Lee Yoo-il, told the Korea Herald that the investors were late entrants to Asia and their products did not overlap with Ssangyong's.

BMI believes that another positive aspect of Ssangyong's plan is that its product strategy fits with the government's plan to speed up mass production of electric vehicles. A revamp of the company's product range features heavily in the plan, which includes producing an electric and a plug-in electric hybrid model within the next five years. In order to meet new stricter emissions standards being implemented in leading export markets such as the US and EU, the Ministry of Knowledge Economy has now moved the target date for EV mass production from 2013 to H211.

This should form the basis for consistent growth in vehicle production over the next five years, with BMI forecasting average annual output growth of 3-4%. While Ssangyong controls less than 2% of sales by national manufacturers in South Korea, having the company back on track to stability will be important for the domestic industry in the long term.

[Joseon]

Despite xentradis lame defence that no one cares there are a lot of people reading your posts joaharau nodding our heads and agreeing with you. I think the lame defence by xentradi as if he's claim that u are allegedly being ignored meant that, what u have to say is any less real reveals what a snivelling weasel he is and probably knows in the back of his mind he is just talking crap.

Remember he said he works the stock markets. IMF most definetly increase the pool of things that are Korean and aer on sale to the world. Xentradi likes this because it fillshis pockets. Once u realise that u understand why he has the views he does. He's a slimeball.

Please post more information about the IMF as many here agree with you and would like to learn even more. Its alughable he has to grasp for straws by going overboard and saying 'do you want to be like north korea' ,that shows the amount of substance he has in his arguements.

One person who knows of the IMF crisis.

[Joseon]

I wonder what happened to Xentradi. hmm.

[Joseon]

SAIC and GM are related. that is the Grand Master.

SAIC also has shares in Daewoo.
http://english.peopledaily.com.cn/200210/1...14_104999.shtml
The Shanghai Automotive Industry (Group) Corp. (SAIC) said Sunday it will take over 10 percent of the shares of a new General Motors-Daewoo joint venture at a cost of 59.7 million US dollars.

This is the first time a Chinese automaker has ever taken part in regrouping and merging of global automotive enterprises, said SAIC Chairman Hu Maoyuan, at a press conference hosted by the SAIC and GM China.

The GM-Daewoo Auto & Technology Company, based in the Republic of Korea, is expected to go into operation by the end of this month.

With the SAIC taking its share in hand, GM will take 42.1 percent of the joint venture's stakes and GM's global partners 14.9 percent, with the remaining 33 percent held by Daewoo creditors.

The new company will be engaged in designing, manufacturing and marketing of sedans, multiple-purpose and light-duty vehicles, and provide after-sale services.

The GM-Daewoo deal, signed in April, is seen by industry sources as a fresh effort of GM for a bigger share of the Asia market, while the SAIC's acquisition is expected to further enhance its cooperation with GM.

Describing the acquisition as a major step of the SAIC's strategy of "overseas development," Hu said the move will help the company mingle with the international auto market in terms of capital, products, enterprise management and human resources.

"It will also help the SAIC to improve its capacity of independent development and sharpen its competitive edge internationally," he said.

As one of the three leading Chinese automakers, the SAIC has established 57 joint ventures with world famous multinational corporations from 11 countries and regions. These joint ventures contribute to more than 90 percent of the SAIC's sales income and profits.

Philip Murtaugh, GM China chairman and CEO, spoke highly of the SAIC's joining in the GM-Daewoo project. He said it would be a milestone in the development history of China's automotive industry and provide a new pattern of cooperation between Chinese and global auto industry.

The SAIC and GM have cooperated in many fields. Three joint ventures between them, namely the Shanghai GM Company Ltd., Pan-Asia Automotive Technological Center and the SAIC-GM-Wulong Automotive Co., Ltd. are all operating smoothly.

[Joseon]

ROK's Ssangyong Motor returns to Chinese market
English.news.cn 2011-09-01 19:00:58 FeedbackPrintRSS

TIANJIN, Sept. 1 (Xinhua) -- Ssangyong Motor Co., the smallest automaker of the Republic of Korea (ROK), has re-entered the Chinese market with its new sport utility vehicle (SUV) two years after it halted exports to the country, Chinese authorities said Thursday.

The first batch of 302 Ssangyong SUVs, including Kornando, Actyon and Rexton models, were shipped to the northern Chinese port city of Tianjin this week, a spokesman with the Tianjin Port Co., Ltd. said.

The company opened its China headquarters in Shanghai earlier this year and designated two Chinese auto dealers for its sales in the country, the spokesman said.

Ssangyong was affiliated with China's Shanghai Automotive Industry Corp. (SAIC) between 2004 and 2009, and began exporting SUVs to China in 2006. Then it entered bankruptcy protection in February 2009 after SAIC decided to disassociate itself from the company, which led to the halt of its SUV exports to China.

Last year, Ssangyong agreed to sell its majority stake worth 460 million U.S. dollars to Indian carmaker Mahindra & Mahindra Ltd.

http://news.xinhuanet.com/english2010/chin...c_131092156.htm

[Joseon]

TITLESsangYong helps SAIC into EUAUTHOR(S)Lewin, Tony; de Oliveira, Paulo Soares; Fograscher, Anita; Weernink, Wim Oude; Ciferri, LucaPUB. DATEApril 2007SOURCEAutomotive News Europe;4/30/2007, Vol. 12 Issue 9, p1SOURCE TYPETrade Publication DOC. TYPEArticle ABSTRACTThe article deals with the plan of Shanghai Automotive Industry Corp. (SAIC) to start the sales of its cars in Europe as early as 2008. It will distribute Roewe cars through the dealer network of its Korean subsidiary SsangYong. SAIC has a two-step strategy to enter the European market. Dutch dealer group Kroymans likely will distribute Roewe cars though its 170 SsangYong dealers in Germany, Belgium and the Netherlands starting late next year.TITLESsangYong helps SAIC into EUAUTHOR(S)Lewin, Tony; de Oliveira, Paulo Soares; Fograscher, Anita; Weernink, Wim Oude; Ciferri, LucaPUB. DATEApril 2007SOURCEAutomotive News Europe;4/30/2007, Vol. 12 Issue 9, p1SOURCE TYPETrade Publication DOC. TYPEArticle ABSTRACTThe article deals with the plan of Shanghai Automotive Industry Corp. (SAIC) to start the sales of its cars in Europe as early as 2008. It will distribute Roewe cars through the dealer network of its Korean subsidiary SsangYong. SAIC has a two-step strategy to enter the European market. Dutch dealer group Kroymans likely will distribute Roewe cars though its 170 SsangYong dealers in Germany, Belgium and the Netherlands starting late next year.