Ssangyong Motor Halts Production Due to Parts Shortage
Ssangyong Motor, which applied for court receivership to avoid bankruptcy last week amid worsening liquidity crisis, has suspended production at its sole plant because of a parts shortage, Yonhap News reported.
Production at its plant in Pyeongtaek, about 70 km south of Seoul, will cease indefinitely, the local unit of China's Shanghai Automotive Industry Corp. said in a statement.