Shareholders approve split of South Korean yard ahead of merger

Despite dissatisfaction among employees, Hyundai Heavy Industries' shareholders have approved a split of the company, a move that marks the first step in the merger with competitor DSME.

Photo: /Ritzau Scanpix/Reuters/Jo Yong-Hak

by CHRISTIAN CARLSEN

Shareholders in Hyundai Heavy Industries have approved a split of the shipbuilder, a move that is part of the merger with competitor Daewoo Shipbuilding & Marine Engineering, DSME, reports Yonhap News Agency.

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