Chairman Lee Dong-geol: "Support for Ssangyong Motor, Business Sustainability Is Important"

[Asia Economy Reporter Kangwook Cho] Lee Dong-geol, chairman of the Korea Development Bank, stated on the 28th that he would place great importance on the sustainability of the business in relation to support for Ssangyong Motor, which is experiencing management difficulties.

At an online press conference held for the first time since his reappointment (September 11), Chairman Lee said, "I have heard that HAAH Automotive Holdings proposed to acquire Ssangyong Motor, but I am not involved in the specific details," adding, "I was only informed that Mahindra and potential investors are conducting close negotiations."

He continued, "Since the bank is not a party to the negotiations, we receive indirect reports, but it is difficult to confirm specifics," and emphasized, "The essential issue regarding Ssangyong Motor is the sustainability of the business, that is, its viability."

Chairman Lee stressed, "I am aware that doubts have been raised about Ssangyong Motor's sustainability," and added, "We will naturally regard that aspect as very important."