Ssangyong says its labour union and management have agreed to seek a mutually beneficial resolution of their dispute by Monday.

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Ssangyong’s striking workers occupied its plant and the company threatened to call in riot police to end the occupation earlier this week.


At a meeting on Friday Ssangyong managers and the union agreed to reach an agreement by June 8.


The meeting’s mediator, Pyeongtake Mayor Song Myeong-ho, said another negotiation will be held before Monday to talk on the planned layoff, strike and police intervention.


Ssangyong, which has been under US-style bankruptcy protection since February, said last month it will cut 2,646 jobs, or 36 percent of its total workforce.

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In May, the Seoul Central District Court said Ssangyong is worth saving rather than liquidating, but warned it could still liquidate the ailing carmaker if it fails to make the job cuts as promised.