SsangYong originally started out as two separate companies; Ha Dong-hwan Motor Workshop (established in 1954)
and Dongbang Motor Co (established in 1962). In mid-1963, the two companies merged into Ha Dong-hwan Motor Co.
It was taken over by Ssangyong Business Group in 1988 and changed its name to SsangYong Motor.
In 1991 a technology partnership with Mercedes-Benz was started, 6 years later Daewoo bought the company,
but sold it again in 2000 because of financial troubles of the conglomerate. In 2004 the Chinese
automobile manufacturer SAIC took a 51% stake of the company.