SEOUL, June 19 (Korea Bizwire) — The chairman of Daewoo Engineering & Construction (E&C) Co. has paid a courtesy call on Mozambican President Daniel Chapo to seek support for potential liquefied natural gas (LNG) construction projects in the African nation, the company said Thursday. During his visit to the presidential office in Maputo on Wednesday [...]
SEOUL, April 18 (Korea Bizwire) — Daewoo Engineering & Construction Co. has signed a US$700 million framework agreement to build a fertilizer plant in Turkmenistan, Seoul’s industry ministry said Friday. The agreement was signed in Seoul with Turkmenistan’s state-owned chemical firm, Turkmenhimiya, according to the Ministry of Trade, Industry and Energy, noting the South Korean [...]
SEOUL, July 28 (Korea Bizwire) — Daewoo Engineering & Construction Co. and SK ecoplant Co., two major builders in South Korea, said Thursday they have signed a memorandum of understanding to enhance cooperation on nuclear power plant projects. According to the terms of the MOU, the two parties will exchange technology and personnel. They will [...]
SEOUL, Nov. 1 (Korea Bizwire) — Nearly two-thirds of South Korea’s top 30 conglomerates have been dissolved or dropped out of the standings since the 1997 Asian financial crisis, a market tracker said Wednesday. According to corporate tracker CEO Score, 19 family-controlled conglomerates, called chaebol here, disappeared altogether from the list with the remainder maintaining [...]
SEOUL, Aug. 30 (Korea Bizwire) — Two South Korean shipbuilders — Samsung Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. — are expected to win a combined US$1.5 billion deal, industry sources said Wednesday. According to industry tracker TradeWinds, the Mediterranean Shipping Co. (MSC) is working on an order for up to 11 [...]
SEOUL, Aug. 21 (Korea Bizwire) – The domestic shipbuilding industry was engulfed in a wave of low spirits as shipping publication “Tradewinds” and eBest Investment and Securities (eBest) both reported that French company CMA CGM had signed a letter of intent with two Chinese shipbuilding firms for nine container ships. The reason for the Korean [...]
SEOUL, April 12 (Korea Bizwire) – In the wake of growing concerns over the future of one of South Korea’s biggest shipbuilding companies, DaeWoo Shipbuilding & Marine Engineering (DSME), more than 90 percent of employees have agreed to return some of their salary as part of a collective effort to cut spending and save the company. [...]
SEOUL, April 6 (Korea Bizwire) – South Korea’s state pension fund, one of the key debt holders for ailing Daewoo Shipbuilding & Marine Engineering Co., said Thursday it remains undecided on whether to agree on debt rescheduling measures that aim to keep the shipyard afloat. The National Pension Service (NPS), which holds about 30 percent [...]
SEOUL, April 4 (Korea Bizwire) – Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Tuesday that it has clinched a US$250 million deal to build three very large crude carriers (VLCCs). Under the deal with Maran Tankers Management, a unit of Greece’s largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding will deliver [...]
SEOUL, April 4 (Korea Bizwire) – Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Tuesday that it has clinched a US$250 million deal to build three very large crude carriers (VLCCs). Under the deal with Maran Tankers Management, a unit of Greece’s largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding will deliver [...]