By Lee Min-hyung Korea Development Bank (KDB) has reiterated its unwavering position that no financial support will be made to SsangYong Motor, unless the cash-strapped carmaker comes to “specific” terms with a potential investor over its rehabilitation plans.
This is in response to SsangYong Motor’s recent announcement that it will keep engaging in negotiations with its mother firm, Mahindra & Mahindra, and U.S. car retailer HAAH Automotive.
Despite the latest pledge from SsangYong, the outlook remains unclear over whether the carmaker will be able to reach a consensus with HAAH or other potential new investors.