SAIC to retain Ssangyong assets

SHANGHAI: A spokeswoman from SAIC Motor Corp, China's largest automaker, said yesterday it will continue to work toward the normal business operation of debt-ridden Ssangyong, after the South Korean SUV maker was put into bankruptcy protection by a Seoul court last Friday.

"We respect and understand the rule by the court. It is a decision based on all related interested parties in line with the South Korean law," said the SAIC spokeswoman.

SAIC issued a statement yesterday saying that the Seoul Central District Court approved the bankruptcy protection application from Ssangyong.