SsangYong Group
Encyclopedia
SsangYong Group is a South Korea
n based Chaebol
or conglomerate
. SsangYong, literally translated, means "Double Dragon". It was largely broken up by the East Asian financial crisis in 1997. The chaebol
was forced to sell or relinquish control in many of their subsidiary interests including the SsangYong Motor Company
; the Ssangyong Paper Co., now controlled by Hankook P&G
; Ssangyong Cement Industrial Co., Ltd
, now 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., sold to Aramco in 1999.
The Ssangyong Cement Industrial Co., Ltd
is now the core company in the SsangYong chaebol. Its largest shareholder is the Japanese concrete manufacturer, Taiheiyo Cement
. Ssangyong Cement's primary subsidiaries are Shanghai Pulong Concrete Product Co., Ltd. (China); Tianjin Yanlong New Building Material Co., Ltd.; Ssangyong Materials; Shanghai Baotailong Concrete Products Co., Ltd. (China).
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
n based Chaebol
Chaebol
Chaebol refers to a South Korean form of business conglomerate. They are global multinationals owning numerous international enterprises. The term is often used in a context similar to that of the English word "conglomerate"...
or conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
. SsangYong, literally translated, means "Double Dragon". It was largely broken up by the East Asian financial crisis in 1997. The chaebol
Chaebol
Chaebol refers to a South Korean form of business conglomerate. They are global multinationals owning numerous international enterprises. The term is often used in a context similar to that of the English word "conglomerate"...
was forced to sell or relinquish control in many of their subsidiary interests including the SsangYong Motor Company
SsangYong Motor Company
SsangYong Motor Company is the fourth largest South Korean automobile manufacturer. The name SsangYong means double dragons.SsangYong was acquired by India's Mahindra & Mahindra Limited in February 2011, after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company...
; the Ssangyong Paper Co., now controlled by Hankook P&G
Hankook P&G
Hankook P&G is a Korean consumer goods company headquartered in Yeoksam-dong, Gangnam-gu, Seoul, Korea. The company was established as Seotong P&G in 1989, and changed its name to Hankook P&G in 1993. It produces many popular chemical, food, paper, and personal care products, and has...
; Ssangyong Cement Industrial Co., Ltd
Ssangyong Cement Industrial Co., Ltd
The Ssangyong Cement Industrial Co., Ltd is now the core company in the SsangYong chaebol. Its largest shareholder is the Japanese concrete manufacturer, Taiheiyo Cement. Ssangyong Cement's primary subsidiaries are Shanghai Pulong Concrete Product Co., Ltd. ; Tianjin Yanlong New Building Material...
, now 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., sold to Aramco in 1999.
The Ssangyong Cement Industrial Co., Ltd
Ssangyong Cement Industrial Co., Ltd
The Ssangyong Cement Industrial Co., Ltd is now the core company in the SsangYong chaebol. Its largest shareholder is the Japanese concrete manufacturer, Taiheiyo Cement. Ssangyong Cement's primary subsidiaries are Shanghai Pulong Concrete Product Co., Ltd. ; Tianjin Yanlong New Building Material...
is now the core company in the SsangYong chaebol. Its largest shareholder is the Japanese concrete manufacturer, Taiheiyo Cement
Taiheiyo Cement
is a Japanese cement company, and is the biggest of its kind in Japan. It was formed in 1998 with the merger of Chichibu Onoda and Nihon Cement ....
. Ssangyong Cement's primary subsidiaries are Shanghai Pulong Concrete Product Co., Ltd. (China); Tianjin Yanlong New Building Material Co., Ltd.; Ssangyong Materials; Shanghai Baotailong Concrete Products Co., Ltd. (China).
See also
- 1997 East Asian financial crisis
- Economy of South KoreaEconomy of South KoreaSouth Korea has a market economy which ranks 15th in the world by nominal GDP and 12th by purchasing power parity , identifying it as one of the G-20 major economies. It is a high-income developed country, with a developed market, and is a member of OECD...
- List of South Korean companies
- SsangYong Motor CompanySsangYong Motor CompanySsangYong Motor Company is the fourth largest South Korean automobile manufacturer. The name SsangYong means double dragons.SsangYong was acquired by India's Mahindra & Mahindra Limited in February 2011, after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company...
- SsangYong Information & Communication Corp