Tesla Eyes $2.9 Billion in Chinese Solar Equipment to Power 100 GW U.S. Manufacturing Push 
GE Vernova and Hitachi's $40 Billion SMR Investment Signals a New Era for U.S. Nuclear Energy 
South Korean Stocks Tumble as Hawkish BOK Governor Appointment Rattles Markets 
Saudi Arabia Warns Oil Prices Could Surge Past $180 a Barrel Amid U.S.-Israel-Iran Conflict 
Apple Defies China's Smartphone Slump with Strong Early 2026 Sales 
China Holds Benchmark Loan Prime Rate Steady for Tenth Consecutive Month 
Sinopec Posts 36.8% Net Profit Drop in 2025 Amid Weak Petrochemical Margins and Energy Transition Pressures 
Netflix Eyes South Korea for More Live Events as BTS Concert Livestream Approaches 
Qatar's Economy Under Pressure: How Regional Conflict Could Reshape Global Investment in 2026 
Dollar Weakens as Middle East War Reshapes Global Rate Expectations 
Palantir's Maven AI Earns Pentagon "Program of Record" Status, Reshaping Military AI Strategy 
Iran War Fears Send Oil Prices Surging as U.S. Weighs Ground Troop Deployment 
Gold Prices Drop Amid Inflation Fears and U.S.-Iran Escalation 
Iran Threatens Gulf Infrastructure as U.S.-Israel War Enters Critical 48-Hour Window 
Amazon's "Transformer" Phone: Can It Succeed Where Fire Phone Failed? 
Judge Dismisses Sam Altman Sexual Abuse Lawsuit, But Sister Can Refile 
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.
