Shipbuilder Daewoo's majority shareholder conditionally approves sale

State-owned Korea Development Bank, which owns the majority of Daewoo Shipbuilding & Marine Engineering, has signed a memorandum of understanding to sell Daewoo shares to Hyundai Heavy Industries. The deal could become the largest seen in the history of the shipbuilding industry.

Photo: /ritzau/AP/Kim Dong-min

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