Ssangyong Motor resumes work after unrestAiling South Korean automaker Ssangyong Motor resumed production Thursday after an 83-day hiatus hiatus /hi·a·tus/ (hi-a´tus) [L.] an opening, gap, or cleft.hia´tal
aortic hiatus the opening in the diaphragm through which the aorta and thoracic duct pass. caused by a crippling crip·ple
1. A person or animal that is partially disabled or unable to use a limb or limbs: cannot race a horse that is a cripple.
2. A damaged or defective object or device.
tr.v. and violent strike, company officials said.
It took six days for a clean-up after police ended a 77-day occupation of the plant in protest at mass redundancies. More than 100 people were hurt in clashes last week which left parts of the premises resembling a war zone.
"The passionate efforts by the staff and workers that enabled us to resume production today after only a week's preparation will serve as a great momentum for the company's turnaround," Lee Yoo-Il, a court-appointed manager, said in a statement.
He said the company would complete a redundancy programme and submit a rescue plan to creditors for their approval by September 15.
"Learning from the past hurtful hurt·ful
Causing injury or suffering; damaging.
hurt experience, we will try to find an outside investor who is interested in long-term development of the company," Lee said.
South Korea's smallest automaker received court protection from creditors in February in exchange for a turnaround plan that calls for massive layoffs and cost savings.
China's Shanghai Automotive Industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. Corp. retains a 51 percent stake in the company but lost management control when Ssangyong received protection from bankruptcy.
Unionists refusing to accept layoffs had battled riot police riot police n → policía antidisturbios
riot police n → forces fpl de police intervenant en cas d'émeute;
hundreds of riot police → with giant catapults, firebombs and steel pipes at the plant in Pyeongtaek, 70 kilometers (43 miles) south of Seoul.
The violence clouded prospects for the carmaker's survival and cost nearly 316 billion won (258.3 million dollars) in lost production. Dozens of workers have either been arrested or face arrest.
President Lee Myung-Bak
Lee Myung-bak (Korean: 이명박, Hanja: 李明博, born December 19, 1941 in Hirano, Osaka, Osaka, Japan) is a former mayor of Seoul, the Republic of Korea and expressed shame Tuesday over the violence, which he said had seriously damaged the country's image among foreign investors.
Ssangyong Motor says it expects to produce 2,600 vehicles this month and roughly 4,000 per month from September.
The state-run Korea Development Bank Korea Development Bank (KDB), a wholly state-owned policy bank, was founded in 1954 in accordance with The Korea Development Bank Act for the purpose of financing and managing major industrial projects to expedite industrial development and enhance the national economy. announced Wednesday financial aid of 130 billion won to Ssangyong.