S.Korea's Ssangyong posts record 2002 net profit


SEOUL, Feb 27 (Reuters) - South Korean sports utility vehicle maker Ssangyong Motor Co posted on Thursday a record net profit of 320.4 billion won ($270.8 million) for 2002, helped by rising sales and falling costs. The profit soared from just 9.2 billion won in 2001 for Ssangyong, which is 1.2 percent owned by U.S.-German automaker DaimlerChrsyler AG . "Sales rose sharply last year on the back of excise tax cuts and the strong domestic economy," Ssangyong said in a statement to the ...

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