UPDATE 2-China's SAIC seeking Korea support for Ssangyong

Newswire

(Adds analysts comments, share prices, byline) By Fang Yan and Cheong Jong-woo SHANGHAI/SEOUL, Dec 29 (Reuters) - China's SAIC Motor Corp said it and South Korea's Ssangyong Motor are seeking support for Ssangyong from the Korean government and banks. SAIC, which owns 51 percent of Ssangyong, said the two companies were also discussing with union representatives how to cut labour costs at the Korean firm as it grapples with plunging sales and high raw material costs. "At present SAIC ...

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