Ssangyong Motors has booked a second quarter net loss of KRW20.9bn (US$18.23m).

According to the Korea Herald, sales dipped 2.3% to KRW712 trillion. The company's operating loss of KRW21.1bn in the second quarter compared to KRW33.4bn the previous year.

The first half net loss was KRW52.4bn and operating loss KRW53.7bn.

"It is expected to be a more difficult time for the company due to worries about decreased sales caused by a shrinking real economy in the second half of 2012," said Ssangyong.