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South Korean yard struggling to sell assets

The sale of assets is happening slower than expected at South Korean yard STX. The yard is pressured to sell assets in order to finance itself after receiving assistance from the government earlier this year.

South Korean yard STX is battling to pull together enough funds to keep itself running after the state rescued the company from the brink earlier this year.

In April, the yard's largest shareholder Korean Development Bank approved a rescue plan for the yard which was conditional on selling assets to finance itself.

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