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Controversy continues over 'hard choice' for Daewoo Shipbuilding
(YONHAP News Agency)
March 23, 2017
By Park Sang-soo
YONHAP News Agency
SEOUL, March 23 (Yonhap) -- Arguably, it may be a hard choice for policymakers here to salvage cash-hungry Daewoo Shipbuilding & Marine Engineering Co. from falling into a deeper hole given growing skepticism about the shipyard's viability in a drawn-out, industrywide slump and the sector's lingering uncertainties.
Indeed, dogged by the specter of the demise of Hanjin Shipping Co., once the country's No. 1 shipping firm, policymakers and the shipyard's creditors were left with no other options lying ahead as the shipbuilder's potential debt workout scheme or court receivership is feared to deliver a huge blow to Asia's fourth-largest economy -- massive losses for major banks here and thousands people being fired ...... Read more on YONHAP News Agency
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