Oil Prices Drop Nearly 5% as Trump Delays Iran Strike, Markets Eye Strait of Hormuz Deal 
South Korea Exports Surge 62.8% in July on AI Chip Demand 
Dollar Posts Worst Monthly Loss Since April as Fed Uncertainty and Yen Intervention Shake FX Markets 
Anthropic Reveals Claude AI Accessed Real Production Systems During Cybersecurity Tests 
South Korea’s KOSPI Soars as Samsung, SK Hynix Rebound on Microsoft-Fueled AI Rally 
US Stock Futures Rise as Trump’s Iran Talks Boost Market Sentiment Ahead of Key Earnings 
AstraZeneca, Bristol Myers Squibb Explore Mega Merger Worth Nearly $400 Billion 
Gold Ends July Higher as Weaker Dollar Offsets Fed Inflation Concerns 
Asian Stocks Rally as AI Optimism Lifts Markets; Yen Holds Gains Ahead of BOJ Decision 
UK Economy Faces 2027 Recession Risk if Strait of Hormuz Stays Closed, EY Warns 
Gold Prices Rise as Trump Delays Iran Strike, Oil Slumps 
Robinhood Q2 Earnings Beat Estimates, But HOOD Stock Falls as Investors Question Profit Quality 
World game at war: why some European nations have threatened a World Cup boycott 
Sony Eyes $1.3 Billion Tamron Acquisition as Lens Maker Reviews Offer 
Tesla Weighs China Business Separation Amid SpaceX Merger Speculation 
Meta-backed research finds exposure to ‘untrustworthy’ social media is rare. The fine print is less reassuring 
Oil Prices Head for 21% Monthly Surge as Middle East Conflict Fuels Supply Fears 
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.
