Sale of three South Korean shipyards enters final phase

Only one out of the three South Korean shipyards put up for sale last year due to financial problems has managed to secure a final sales agreement.

Photo: Daewoo Shipbuilding & Marine Engineering/Yonhap

The sale of South Korea's three mid-sized shipyards has entered its final phase despite concerns that it might be difficult to find investors in the wake of the coronavirus crisis and a decline in the shipbuilding industry, reports Yonhap News Agency.

The three shipyards, Hanjin Heavy Industries & Construction, STX Offshore & Shipbuilding and Daesun Shipbuilding Engineering, were put up for sale last year following financial woes.

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