Micron to Buy Powerchip Fab for $1.8 Billion, Shares Surge Nearly 10% 
Trump Criticizes NYSE Texas Expansion, Calls Dallas Exchange a Blow to New York 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
Brazil Supreme Court Orders Asset Freeze of Nelson Tanure Amid Banco Master Investigation 
Oil Prices Stabilize at Start of 2026 as OPEC+ Policy and Geopolitical Risks Shape Market Outlook 
TikTok Expands AI Age-Detection Technology Across Europe Amid Rising Regulatory Pressure 
California Attorney General Orders xAI to Halt Illegal Grok Deepfake Imagery 
Court Allows Expert Testimony Linking Johnson & Johnson Talc Products to Ovarian Cancer 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
Nvidia CEO Jensen Huang Plans China Visit Amid AI Chip Market Uncertainty 
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
Rio Tinto Posts Strong Q4 Iron Ore and Copper Output on Operational Recovery 
HKEX’s Permissive IPO Rules Could Open Opportunities for Korea to Strengthen Its Position in International Listings 
U.S. Stock Index Futures Steady as Markets Await Fed Policy Clues in Holiday-Thinned Trade 
SsangYong Motor has been put up for sale after struggling to keep the business going. It did not receive many bids at first, but now, many companies have entered the race for its acquisition.
It was recently revealed that Samra Midas or SM Group had joined the bidding at the last minute. The South Korean leading construction firm said that it would like to buy the local vehicle company as it should remain under the management of a Korean group.
“SsangYong Motor is a beloved brand for Koreans,” a senior SM official told the Maeil Business Newspaper via Pulse News two weeks ago. “It should not be sold to a foreign capital.”
Industry observers are predicting that Edison Motors and SM Group will remain as the final candidates to acquire SsangYong Motor, and between the two, The Korea Times reported that the carmaker is hoping the new ownership would be awarded to SM Group. This is because it believes SM is the best group that can help the company recover from its financial crisis.
"SM has a strong financial structure and detailed financing plans,” a senior official said. “Therefore, SsangYong employees are backing SM's participation. In terms of chemical combination, SM's acquisition of SsangYong Motor, if it actually happens, will be beneficial to both as SM aims to expand its profile in automotive parts."
At any rate, it was mentioned that seven other firms have forwarded their letters of intent (LOI) to take a majority stake in the embattled Korea-based automobile manufacturer. Ernst & Young Han Young, an auditing firm, is managing SsangYong Motor’s sales process.
According to Yonhap News Agency, the Korea Corporate Governance Improvement (KCGI) fund formed a consortium with Edison Motors, Keystone Private Equity, and two other companies to buy SsangYong, and this is expected to go against SM Group in the acquisition race. The consortium, if it wins the bid, will transform SsangYong into an electric vehicle-focused vehicle-making company.
While SsangYong thinks SM should be its next owner, Edison Motor chairman, Kang Young Kwon, believes that his company is the best firm that can help SsangYong get back on track again. This is because Edison has the expertise in manufacturing electric commercial vehicles that SsangYong could also make later on and restart its business.
