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EU expects to make decision on merger of South Korean yards by Jan. 20

Hyundai Heavy Industries' plans to acquire Daewoo Shipbuilding & Marine Engineering and form the world's largest shipyard is awaiting a green light from the EU, which now has until Jan. 20 to make a decision on the merger.

Photo: Kim Dong-Min/AP/Ritzau Scanpix

The European Commission expects to make a decision by Jan. 20 at the latest in the case surrounding Hyundai Heavy Industries' (HHI) acquisition of Daewoo Shipbuilding & Marine Engineering (DSME).

According to a spokesperson from the European Commission, the EU's competition authority has set Jan. 20 as the provisional deadline for completing the review of the South Korean yard merger. The review has been suspended since July 13, 2020, while the commission has awaited additional information from the parties.

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