Hanwha takes over embattled Korean shipbuilder

Hanwha Group, one of South Korea’s largest industry groups, buys large stake in Daewoo Shipbuilding & Marine Engineering, effectively paving the way for privatization following several years of drought.
Photo: Handout/Reuters/Ritzau Scanpix
Photo: Handout/Reuters/Ritzau Scanpix

South Korean industry conglomerate Hanwa has signed off on a deal to take over crisis-stricken shipyard Daewoo Shipbuilding & Marine Engineering (DSME), according to news media Yonhap.

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