[3] The construction equipment business of Samsung Heavy Industries (mainly producing excavators) was sold to Volvo for US$512 million in July 1998, following the onset of the Asian financial crisis.
[15] The forklift production business was sold to Clark Material Handling Company,[16] which had licensed the designs of those kind of vehicles to Samsung since 1986, after an OEM alliance established in 1984.
[17] One of the truck models produced, the Samsung SV110 with a 2.7-litre diesel engine and a 3.5-tonne GVW version, was sold at overseas markets, including Italy, Turkey and Poland.
[24] Between 1997 and 1999, the company's share in a declining South Korean commercial vehicle market was below 4%, which made it harder to achieve economies of scale.
[4][27][28] The closing of Samsung Commercial Vehicles, along with Daewoo Motors bankruptcy, severely affected the already weakened Daegu economy, increasing the opposition against the national government and the big companies.