KG Mobility Co., Ltd. agreed to acquire 31.229429% stake in Ssangyong Motor Company for approximately KRW180 billion.

KG Mobility Co Ltd, formerly Ssangyong Motor Co Ltd, is a Korea-based company engaged in the manufacture and sale of automobiles. The Company is mainly engaged in the manufacture and sale of recreational vehicles (RVs), sports utility vehicles (SUVs), multi-purpose vehicles (CDVs) and passenger cars under the brand name of rexton sports, korando, korando sports, korando turismo, tivoli, tivoli air and others. The Company is also engaged in the provision of automobile parts. The Company distributes its products within domestic market and to overseas markets.