S.Korea bank calls on SAIC to support Ssangyong

Newswire

SEOUL, Dec 26 (Reuters) - Korea Development Bank has called on SAIC Motor Corp to provide fresh funding and payment guarantees to Ssangyong Motor as a condition for extending new loans to the troubled automaker, a KDB official said on Friday. The official, who asked to remain anonymous, confirmed a report in the Korea Economic Daily that said KDB had told SAIC and Ssangyong that the Chinese car company should provide 120 billion won ($91.99 million) in cash to Ssangyong. In addition, ...

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