Debt-ridden SsangYong seeks foreign partner

SsangYong Motor, South Korea's smallest and most obscure automaker, plans to sell sportutilities in the U.S. early next century, but it may look for cash here much sooner as it considers a major equity sale to GM. SsangYong is deep in debt after setting up to begin licensed productionof Mercedes-based cars and engines this summer.

SsangYolg Motors new president Lee Chong-Kyu, has offered up to 49% of the automaker to GM and other foreign companies. An investor would get access to the heavily protected Korean market ill addition to the automaker's R&D facilities, 4wd expertise and car and truck capacity.

SsangYong s debt is estimated at over $3.5 billion. …