ssangyong bankruptcy update 2022

In 2022, SsangYong’s long-running court receivership saga finally found a grown-up: the KG Group stepped in to acquire the brand. The rehabilitation plan was approved that year, setting the company on a path out of bankruptcy proceedings rather than toward the breaker’s yard. Operations continued in export markets, with sales, parts, and warranties carrying on while the accountants finished their victory lap. In 2023 the company rebranded to KG Mobility, but for Australian buyers the sky didn’t fall—just a new logo and a slightly happier balance sheet. Drama over, back to selling chunky SUVs.