K-Pop Motors (CEO Hwang Yo-seop) announced on the 18th that if the acquisition of SsangYong Motor is confirmed, 100% of all employees of Ssangyong Motor will be hired as announced on April 6th. K-Pop Motors submitted a letter of intent to acquire Ssangyong Motor on the 30th of last month.
As a way to implement this, K-Pop Motors will produce five types of electric cars, including Chairman Man, seven types of electric SUVs, including the Rexton, three types of hybrids, including Musso, and three types of new vans, and three new commercial vehicles, a total of 21 types of cars will be produced at the new plant in Pyeongtaek and Changwon plant.
In addition, it announced that it would manufacture and produce the above vehicles in major local factories such as Dubai in the Middle East, Long Beach in the United States, Munich in Germany, Almaty in Kazakhstan, Hanoi in Vietnam, Bloemfontein in South Africa, and Santos in Brazil, where the above models will be installed in the future.
Furthermore, he declared that sales volume would exceed ten times the current level within the next five years by adding rental car sales at 510 exhibition and sales centers in 239 countries worldwide. It then announced the “Global One Ssangyong Project (employment succession and business expansion)” as a concrete realization method to realize a trillion-dollar net profit in five years.
In particular, he explained that all cars to be rented and sold in the future would pay and operate anywhere in the world with a mobile phone without an intelligent key.
If you use a mobile phone app developed by Paygate, a Fintech company specializing in K-pop Motors, a partner of K-Pop Motors based on the Safe Wallet, and a driving program using a card-type key, anyone can economically rent and operate Ssangyong Electric Rent-a-Car at a minimal cost. I made a plan to make it available for purchase later.
In particular, Chairman Hwang said that he was concerned about the acquisition of SsangYong Motor, saying, “No matter which acquisition candidate is decided, mothers will truly protect Ssangyong and their families (about 4560 workers, 30,000 shareholders, and 150,000 subcontractors), and their children. I hope that I can become a candidate for a win-win partnership that cherishes and loves like a loving heart and shares both joy and sorrow.”
In addition, the candidates for the acquisition of Ssangyong Motor said, “SsangYong Motor has suffered great pain twice so far, and even suffered the death of union members, so it should never hurt the family anymore.”
K-Pop Motors said that fairness is the most important factor in the acquisition of Ssangyong Motor. It will urge EY Hanyoung Accounting Corporation, the lead company, and the court in charge of the Seoul Rehabilitation Court. They said they were confident in taking over Ssangyong Motor because they were giving their support.
In addition, Ssangyong Motor has clearly stated its position on the surplus workforce of about 2,000 people in the automobile industry, which has many questions. This is an answer to whether it is realistically possible after the acquisition, which is a high-wage, multi-employee structure in which an average annual salary of 66 million won is required to be poured out.
K-Pop Motors is interested in the current situation. However, other automakers do not have an answer in reality, but because there is an answer, “Global One Ssangyong Project (employment succession and business expansion)” was planned and announced.
If the “Global One Ssangyong Project” is applied, the current workers’ ability to work will be further upgraded. It claimed that about 2.5 trillion won could be raised through public offerings with additional financial investors (FIs) and national stocks. He emphasized that the solution is to form another source of funds like the people’s share, like in the past Pohang Steel (POSCO).
K-Pop Motors is a practical method for the domestic “Global One Ssangyong Project” to catch two rabbits for Ssangyong Motor’s employment succession and business expansion and development. A large-scale rental car hub complex was proposed so that people could conveniently use the monorail and use Ssangyong Motor’s rental car.
Furthermore, he explained that SsangYong Motor would strengthen its entry into electric vehicles in the future by establishing and training the electric technology training center for electric vehicle workers.
In addition, by strengthening human relations with Jeju residents and creating an intelligent road (CIGS thin-film solar road) in the Jungmun Tourism Complex section from downtown Seogwipo, Jeju Island became a mecca of an actual global bright island.
K-Pop Motors already announced a global smart island in Ulleungdo at the beginning of the year. Currently, we are preparing to build an intelligent road (CIGS thin-film solar road) in the section from Ulleung Airport to Ramada Ulleung Hotel.
To this end, K-Pop Motors said that it had completed strategic business alliances with its affiliates K-Pop Energy, K-Smart City, and monorail specialized EMT and N Company and is preparing for construction and will start the Jeju Smart City Hub project.
Chairman Hwang said, “To promote sales of electric vehicles produced by Ssangyong Electric Vehicle and K-Pop Motors, we will open about 770 domestic exhibition and sales centers over the next five years. We will carry out related businesses through strategic alliances in the form of dealers in the same way as existing imported cars in preparation for sales centers, etc.”