Independent journal on economy and transport policy
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Daewoo Shipbuilding to Speed Up Special Ship Division Spin-off
(BusinessKorea)
August 8, 2016
SEOUL, KOREA
Jung Min-hee
BusinessKorea
According to creditors and financial authorities on August 7, Daewoo Shipbuilding & Marine Engineering Co. (DSME), which comes to a crisis due to the delay in offshore plant delivery, will submit a detailed plan to secure funds to its creditors by the middle of this month.
DSME planned to separate and spin off its special vessel division, or defense unit, by 2018. However, the company now considers advancing its time schedule and raising cash in advance by securitizing its bonds. It will also speed up the plan to downsize the workforce than it planned ...... Read more on BusinessKorea
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