Ssangyong Motor

Ssangyong Motor Co., Korea's fourth-largest automaker, said yesterday it aims to increase sales by 25
percent to 170,000 units worth 4.2 trillion won this year.

The company, owned by China's Shanghai Automotive Industry Corp., hopes to increase overseas sales by 53
percent to 60,000 cars, mostly in Europe and China, while targeting a domestic market share of 9.6 percent.

Ssangyong Chief Executives Soh Jin-kwan and Jiang Zhiwei told reporters at a news conference in central
Seoul yesterday that its Chinese parent, which makes passenger cars with General Motors Corp. and
Volkswagen AG, will promote the Korean carmaker's sport utility vehicles in the world's seventh-largest
economy.

Ssangyong aims to export 2,000 assembled cars worth 55.2 billion won to China this year, through Shanghai
Automotive Industry Sales Corp., an affiliate of SAIC.

Shanghai Huizhong, another affiliate, began assembling and selling Ssangyong's Istana van in 2003.

Ssangyong and Shanghai Auto said they have initiated a post-merger integration program aimed at turning the
Korean carmaker into a global firm. The integration program will involve plans to invest in Ssangyong's
production facilities in Pyeongtaek, just south of Seoul, and development new models and technologies.

Ssangyong forwarded the business slogan "New-MSC," or "New Mind, New Start, New Challenge," seeking
innovation in operations, production costs and corporate mindset.

"Ssangyong is a Korean company. I will be relying on Chief Executive Soh Jin-kwan and the current managing
staff of Ssangyong's operations. SAIC will support Ssangyong to grow into a global firm," said Jiang, who is
also a vice president of SAIC.

Ssangyong wants to see half of its exports go to Europe this year. Ssangyong will begin selling its Rodius
multipurpose vehicle this month on the continent.

About 25 percent of Ssangyong's sales in 2004 came from abroad. The carmaker hopes to increase the
portion to 30 percent this year.

....

- Source from The Korea Herald (Mar 03, 2005) -