SEOUL -- Unionized workers at South Korea's Ssangyong Motor Co. plan to stage a strike every Wednesday until Feb. 24 to oppose a planned sale to China National Blue Star Group, a union spokesman said Thursday.
Creditors picked the Chinese chemical group as a preferred bidder to buy a controlling stake worth about $620 million in the SUV maker last month.
"We've been asking creditors to meet us and talk but they have refused," a union spokesman said.
Ssangyong, which has capacity to produce 180,000 vehicles a year with a work force of 7,500, was put up for sale after creditors took control of the debt-ridden company in late 1999.
Ssangyong, which builds Rexton, Korando and Musso SUVs as well as deluxe Chairman passenger cars, competes with top automaker Hyundai Motor Co., which controls 48 percent of the country's $18 billion auto market.
Blue Star's acquisition in South Korea would be the latest in a string of foreign acquisitions by Chinese state-owned companies looking to spend some of China's trade surplus to expand globally.
Blue Star is a state-owned conglomerate under the direct control of the Chinese government. It mainly produces chemicals and has annual sales of more than $1.2 billion.