At Daewoo Shipbuilding & Marine Enginering (DSME), the first half of the year has proven dismal due to rising costs and falling sales. This has led the major South Korean shipyard to bear a net loss of KRW 1.25 trillion (USD 1.1 billion), according to several media reporting on DSME's half-year results.
The USD 1.1 billion deficit must be viewed in the context of the USD 251 million generated in profits in the same quarter last year.
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