Singapore approves merger of South Korean shipyards

The Competition and Consumer Commission of Singapore previously voiced concerns about a South Korean yard merger, but the commission has now concluded that the merger will not harm competition.

Photo: Stringer/Reuters/Ritzau Scanpix

Singapore approves the merger of South Korean yards Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering, says the Competition and Consumer Commission of Singapore, CCCS, in a statement.

The CCCS has previously voiced concerns about the merger, but the commission has now concluded that the merger will not distort competition.

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