The government has unveiled plans to privatize Daewoo Shipbuilding and Marine Engineering... as part of efforts to boost competitiveness within South Korea's struggling shipbuilding sector.
At a ministerial-level meeting,... Finance Minister Hong Nam-ki said the state-run Korea Development Bank, which holds a majority 55-point-7-percent stake in DSME, plans to sell its shares to Hyundai Heavy Industries.
With the takeover, the local shipbuilding industry is expected to be dominated by Hyundai Heavy and Samsung Heavy Industries.