SsangYong Group is a South Korean-based Enterprise Group or
conglomerate founded in 1987.
''SsangYong'', literally translated, means "Double Dragon". It was largely broken up by the
Asian financial crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1 ...
in 1997.
The
chaebol
A chaebol (, ; ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group whose power over the group often exc ...
was forced to sell or relinquish control in many of their subsidiary interests including the
SsangYong Motor Company
The SsangYong Motor Company ( ko, 쌍용자동차 주식회사) is a South Korea–based automobile manufacturer. It traces its origins back to a manufacturer established in 1954. The name SsangYong appeared in 1988, after its acquisition by the ...
; the Ssangyong Paper Co., now controlled by
Hankook P&G, Ssangyong Cement Industrial Co. Ltd, was owned by the shipping company,
Afro-Asia; Yongpyung Resort, Ssangyong Heavy Industries, Ssangyong Precision Industry Co.,
Ssangyong Engineering & Construction Co., Ltd, and Riverside Cement, now controlled by Texas Industries, Inc. and
Ssangyong Oil Refining Co., Sale of treasury stock in 1999.
See also
*
1997 Asian financial crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1 ...
*
Economy of South Korea
The economy of South Korea is a highly developed mixed economy. By nominal GDP, it has the 5th largest economy in Asia and the 13th largest in the world. South Korea is notable for its rapid economic development from an underdeveloped nati ...
*
List of South Korean companies
A ''list'' is any set of items in a row. List or lists may also refer to:
People
* List (surname)
Organizations
* List College, an undergraduate division of the Jewish Theological Seminary of America
* SC Germania List, German rugby union ...
*
SsangYong Motor Company
The SsangYong Motor Company ( ko, 쌍용자동차 주식회사) is a South Korea–based automobile manufacturer. It traces its origins back to a manufacturer established in 1954. The name SsangYong appeared in 1988, after its acquisition by the ...
References
{{Reflist
Construction and civil engineering companies of South Korea