Home » Business » [사설]In addition, Ssangyong Motor’s fate entrusted to the court, and other companies are unsure

[사설]In addition, Ssangyong Motor’s fate entrusted to the court, and other companies are unsure

After the liquidity crisis, Ssangyong Motors applied to the court for corporate rehabilitation procedures (formerly court management). It was because it was unable to pay off the 165 billion won in loans from financial institutions due to a deficit for 15 consecutive quarters. Although they applied for the ARS (autonomous restructuring) program to withhold the commencement of the rehabilitation procedure, they earned three months of time, but there was a growing concern that the massive layoffs they experienced in 2009 and the bankruptcy of partners could occur again.

The crisis in the auto industry is not a problem only for Ssangyong Motors. GM Korea suffered production disruptions due to labor-management conflict, in addition to the decrease in sales due to the prolonged Corona 19. In the process of negotiating wages and collective agreements, the union faced overtime refusals and partial strikes, resulting in more than 25,000 production losses. It was estimated that the production disruption this year reached 85,000 units. Renault Samsung Motors has already suffered a production disruption of nearly 10,000 units, and the possibility of the union’s strike decision remains due to the delay in the labor agreement.

In the industry, there are observations that the union of GM Korea and Renault Samsung lost the trust of overseas headquarters as they habitually repeated strikes. In fact, these companies are said to be very affirmed that they will not be assigned production quantities from the headquarters. The fact that a senior GM of the United States recently officially announced the possibility of withdrawal, saying, “If the union strike continues, we can no longer invest in GM Korea”, it is a warning sound that the crisis in the auto industry will not stop at Ssangyong. Renault Samsung, which was revived by obtaining the export volume of XM3 from the French headquarters, cannot guarantee an additional allocation.

The crisis in the auto industry is serious in that it threatens the entire automotive industry ecosystem. This is because there are 600,000 jobs, including 1st, 2nd and 3rd tier parts makers and raw and subsidiary material suppliers. The automaker industry is expecting a full-fledged export recovery next year. However, if it remains like this, there is a high possibility that labor-management relations will fall behind and fall behind in global competition. German Volkswagen extended the validity period of the labor-management agreement in consideration of the Corona 19 crisis, and Japan’s Toyota achieved a no-conflict settlement despite the introduction of a differential wage increase system. In order to overcome the crisis, we need to look forward to the future, and we also need to imitate the way labor and management make concessions and unite.

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