Ssangyong Engineering & Construction Co., Ltd. was founded in 1977 in Shinchon-dong Songpa-gu, Seoul, Korea. The company was initially the construction arm of the South Korean chaebol SsangYong Group. Ssangyong Construction Co., Ltd was founded on October 18, 1977. It was renamed as Ssangyong Engineering & Construction Co., Ltd. in 1986 and began expanding overseas. The 1997 Asian financial crisis, which hit South Korea hard, led to the conglomerate's collapse due to the debts incurred by its automobile division. It was eventually broken up and its subsidiaries were spun off into separate companies under new management. These companies still retain the "Ssangyong" name but are not related. More information...
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