SEOUL, Dec.2 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering announced that it has sold all of its helicopters. The company is cleaning up its non-core assets to normalize management. Daewoo Shipbuilding & Marine Engineering owned two Sikorsky helicopters that can each seat 14 people, and used them to transport key figures and guests. However, [...]
SEOUL, Nov. 25 (Korea Bizwire) – South Korean shipbuilders are seeking to sell assets and cut costs, as they struggle with massive losses stemming from a protracted industry slump and rising costs, industry sources said Wednesday. The country’s big-three shipyards — Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries [...]
SEOUL, Oct. 23 (Korea Bizwire) – As financial authorities and creditors have held off a plan to support the normalization of Daewoo Shipbuilding & Marine Engineering, the union from the Korea Development Bank (KDB) is pushing for a restructuring based on fundamentals. KDB’s union urged Daewoo to restructure even if the companies goes under legal [...]
SEOUL, Sept. 21 (Korea Bizwire) – The average years of service among employees of 24 major conglomerates has increased in spite of the prolonged period of economic difficulties. Considering that the research was conducted on the 30 major corporations in Korea, the results showed that a majority of workers are staying at their jobs for a [...]
SEOUL, Aug. 31 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering, South Korea’s No. 2 shipbuilder, is pushing for a massive restructuring drive next month, including the sale of assets worth up to 400 billion won (US$339.1 million), as it struggles to recover from huge losses, industry sources said Monday. Assets likely to be sold [...]
SEOUL, Aug. 10 (Korea Bizwire) — South Korea’s major shipyards, led by Hyundai Heavy Industries, are expected to log record losses this year as they struggle with money-losing projects to build offshore facilities and a decline in new orders, industry sources said Monday. The country’s big three shipbuilders — Hyundai Heavy, Daewoo Shipbuilding & Marine [...]
SEOUL, Feb. 18 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering (DSME), the second largest shipbuilder in the world, has had eleven of its vessels selected as the best ships of 2014 by several magazines exclusively dedicated to shipbuilding and shipping, including Naval Architect, Maritime Reporter and Marine Log, said the company on January 21. Three container [...]
SEOUL, Oct. 12 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering said on October 10 that it held the first “Ocean Arbor Day” event on the previous day with 300 employees and their families at a beach in Jisepo-ri within Geoje Island. The participants planted in the water common eelgrass (Zostera marina), with an accompanying lecture [...]
SEOUL, Sep. 30 (Korea Bizwire) — It is likely the next-generation submarine for the Republic of Korea Navy will be Jangbogo III (Batch I) based on homegrown technology. The Defense Acquisition Program Administration said on September 29 that Daewoo Shipbuilding & Marine Engineering, the shipbuilder to assemble two 3,000-ton class conventional submarines, has sufficient capabilities to build [...]
SEOUL, Sept. 19 (Korea Bizwire) – Only two days after an announcement that it won a super large-scale liquefied petroleum gas carrier order, Daewoo Shipbuilding & Marine Engineering said on September 18 that it landed another deal to build an environmentally friendly liquefied natural gas carrier equipped with a high-pressure fuel supply device. The company’s president Koh Jae-ho [...]