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Competition Commissioner confirms review of South Korean shipyard merger

The EU's competition Commissioner, Margrethe Vestager, is launching an official investigation into a South Korean yard merger after the preliminary inquiry showed cause for concern. In particular, the market for four ship types worry the commission.

Photo: FRANCOIS LENOIR/REUTERS / X01164

The European Commission is worried that a merger between the two South Korean shipyards Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) will restrict competition within shipbuilding to the detriment of European shipping companies and consumers.

Therefore, the EU Commission launches a thorough investigation into the merger between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME), informs the commission in a press release.

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