[Featured Stock] Ssangyong Motor Acquisition Setback Leads to Decline in Ssangbangwool-Related Stocks

[Asia Economy Reporter Lee Jung-yoon] As KG Group was selected as the new owner candidate of Ssangyong Motor, stocks affiliated with Ssangbangwool Group declined.

As of 2:06 PM on the 13th, Ssangbangwool is trading at 662 won, down 6.76% from the previous day. Kwanglim, which had stepped forward as the acquisition entity for Ssangyong Motor, is trading at 2,075 won, down 15.82% from the previous trading day.

On this day, KG Group was selected as the new owner candidate of Ssangyong Motor. The Seoul Bankruptcy Court Rehabilitation Division 1 (Chief Judge Seo Kyung-hwan, Presiding Judges Lee Dong-sik and Na Sang-hoon) accepted Ssangyong Motor's application and announced that the prospective acquirer was decided as a consortium of KG Group and the private equity fund Pavilion PE.