Independent journal on economy and transport policy
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Korean Gov’t Planning to Merge STX and Sungdong
(BusinessKorea)
August 24, 2017
Jung Min-hee
BusinessKorea
The South Korean government holds a meeting next month in order to discuss a merger between Sungdong Shipbuilding & Marine Engineering and STX Offshore & Shipbuilding.
At present, STX is being managed by Korea Development Bank (KDB) and Sungdong is being managed by the Export-Import Bank of Korea. Due diligence is currently underway in the shipbuilders by the respective creditor banks. The government is planning to carry out downsizing and the merger based on the result of the due diligence scheduled to become available next month ...... Read more on BusinessKorea
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