Samsung Commercial Vehicles

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Samsung Commercial Vehicles Co., Ltd.
Native name 삼성상용차 주식회사
Former type Subsidiary
Industry Heavy equipment
Founded August 1996[1]
Defunct December 2000
Headquarters Daegu, South Korea
Parent Samsung
Samsung Commercial Vehicles
Hangul 삼성상용차
Hanja 三星商用車
Revised Romanization Samseong Sangyongcha
McCune–Reischauer Samsŏng Sangyongch'a
The Samsung SV110, a slightly modified Nissan Atlas F23.

Samsung Commercial Vehicles (Korean: 삼성상용차,[2] IPA: [samsʌŋ saŋjoŋtɕʰa]) was a South Korean trucks and construction equipment manufacturer established by the Samsung Group in 1996 and closed in 2000.[3][4][5]

History

In 1992, Samsung started to seek approval to create a commercial vehicles' assembly plant through Samsung Heavy Industries, with Nissan Diesel's technological assistance.[6] By 1994 the local government reluctantly granted all permissions and in 1996 was initiated the construction of a plant in Daegu.[3][4][5]

The Asian financial crisis hit when the company marketed its first products. Samsung sold its carmaker (Samsung Motors) to the French Renault,[7] but, after negotiations with Renault's Renault VI subsidiary,[8] it decided to keep Samsung Commercial Vehicles.[7] At the end of 2000, however, the company finally declared bankruptcy.[2][5] All its assets were sold and its personnel was transferred to other subsidiaries of the Samsung Group.[2][9] Samsung Commercial Vehicles' failure generated suspicion and accusations of fraud[10] and destruction of evidence for certain managers.[11] [12] The company's liquidation ended in 2002.[1]


Models

  • SV110[13]
  • SM510
  • SM530

See also

References

  1. ↑ 1.0 1.1 "삼성상용차 24일 파산 신청" [Samsung Commercial Vehicles for bankruptcy in 24 days]. article.joins.com (in Korean). JoongAng Ilbo. 23 February 2002. Archived from the original on 31 July 2013. Retrieved 24 August 2013. 
  2. ↑ 2.0 2.1 2.2 "삼성상용차 부지 경매절차 시작" [Starts the process to auction the Samsung Commercial Vehicles' lot]. yeongnam.com (in Korean). The Yeongnam Ilbo. 16 October 2002. Retrieved 20 March 2013. 
  3. ↑ 3.0 3.1 "History". Samsung. Archived from the original on 2 July 2012. Retrieved 19 March 2013. 
  4. ↑ 4.0 4.1 Guillen, Mauro F. (2003). "Developing Industry: Automobile and component manufacturing". The Limits of Convergence: Globalization and Organizational Change in Argentina, South Korea, and Spain. Princeton University Press. pp. 166–167. ISBN 978-0-691-11633-4. 
  5. ↑ 5.0 5.1 5.2 "Samsung Commercial Vehicle Applies for Bankruptcy". english.chosun.com. The Chosun Ilbo. 24 November 2000. Retrieved 19 March 2013. 
  6. ↑ "Company News: Samsung Planning comercial vehicle venture". nytimes.com. New York Times. 13 June 1992. Archived from the original on 18 August 2013. Retrieved 19 March 2013. 
  7. ↑ 7.0 7.1 Michell, Anthony (2010). "Samsung Electronics and the Samsung Group". Samsung Electronics and the Struggle For Leadership of the Electronics Industry. John Wiley & Sons. pp. 57–58. ISBN 978-0-470-82266-1. 
  8. ↑ "Renault mulls stake in Samsung truck". wards.com. Ward's. 1 February 2000. Retrieved 17 August 2013. 
  9. ↑ "<기업구조조정> 삼성상용차, 자산은 매각·인력은 계열사 수용" ["Corporate restructuring:" Samsung commercial vehicles, sale of assets and personnel transfer to subsidiaries] (in Korean). Labortoday.com. 3 November 2000. Retrieved 20 March 2013. 
  10. ↑ "심상정의원이 예금보험공사의 삼성 상용차에 대한 조사와 관련하여 제기한 5가지 의혹에 대한 해명" [Members of the Deposit Insurance Corporation in connection with an investigation into Samsung Commercial Vehicles which raised doubts about five registers]. newswire.com. Newswire. 25 September 2005. Retrieved 24 August 2013. 
  11. ↑ "삼성상용차 설비매각, 알고보니 '비리 투성'" [Sale of Samsung Commercial Vehicles' equipment and units looked 'riddled with corruption']. Ohmynews.com. 8 October 2004. Retrieved 20 March 2013. 
  12. ↑ "김용철 "삼성,법원 매수해 삼성상용차 분식회계서류 빼내 해운대서 소각"" [Kim Yong: "Samsung Commercial Vehicles' accounting fraud out of document incineration "]. news.chosun.com. The Chosun Ilbo. 26 November 2007. Retrieved 20 March 2013. 
  13. ↑ "삼성삼성상용차, 도시형 1톤트럭 SV110出市" [Samsung Commercial Vehicles: 1-ton urban truck SV110]. samsung.co.kr. Samsung. 2 November 1998. Retrieved 20 March 2013. 
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