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DSME Renamed Hanwha Ocean for New Start as Hanwha Unit

DSME Renamed Hanwha Ocean for New Start as Hanwha Unit

SEOUL, May 23 (Korea Bizwire) — Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) was rebranded as Hanwha Ocean Co. on Tuesday, opening a new era as a unit of Hanwha Group, the seventh-largest conglomerate in the country. The embattled shipyard also appointed Kwon Hyuk-woong, president of Hanwha’s support division, as its [...]

FTC Approval Clears Way for Hanwha’s DSME Takeover, Though Challenges Remain

FTC Approval Clears Way for Hanwha’s DSME Takeover, Though Challenges Remain

SEOUL, April 27 (Korea Bizwire) — The South Korean antitrust regulator’s conditional approval of the plan to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME) removes the last hurdle for Hanwha Group’s push to become a global leader in the defense and energy sector. But it also leaves Hanwha, the seventh-largest conglomerate in the [...]

Hanwha Signs Takeover Deal with Daewoo Shipbuilding

Hanwha Signs Takeover Deal with Daewoo Shipbuilding

SEOUL, Dec. 16 (Korea Bizwire) — Hanwha Group signed an agreement with Daewoo Shipbuilding & Marine Engineering Co. (DSME) on Friday to take over the embattled shipbuilder, officials said, paving the way for a smooth privatization after multiple unsuccessful attempts. Under the deal, Hanwha Aerospace and five other Hanwha affiliates will acquire a 49.3 percent [...]

DSME Partners with POSCO on New Shipbuilding Materials

DSME Partners with POSCO on New Shipbuilding Materials

SEOUL, Dec. 14 (Korea Bizwire) – South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Wednesday it has signed a business partnership agreement with top local steelmaker POSCO on the development of new shipbuilding materials. The deal calls for joint efforts to develop new shipbuilding materials and welding technologies that will be applied [...]

DSME Inks Tie-up with U.S. Firm on Liquid Hydrogen Carrier

DSME Inks Tie-up with U.S. Firm on Liquid Hydrogen Carrier

SEOUL, Oct. 13 (Korea Bizwire) — South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has signed a business tie-up agreement with a U.S. energy company on the development of technologies for a large liquid hydrogen carrier. The deal with CB&I, a unit of U.S. energy engineering and construction solutions provider [...]

DSME Completes Test of CO2 Capture Unit

DSME Completes Test of CO2 Capture Unit

SEOUL, Oct. 6 (Korea Bizwire) — South Korean shipyard Daewoo Shipbuilding & Marine Engineering Co. (DSME) said Thursday it has finished testing an onboard carbon dioxide (CO2) capture and storage (OCCS) unit. The new system has been tested on a liquefied natural gas (LNG) carrier and is expected to help reduce greenhouse gas emissions, DSME [...]

DSME Builds Land-based Test Site for Eco-friendly Technologies

DSME Builds Land-based Test Site for Eco-friendly Technologies

SEOUL, Sept. 30 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) announced on Thursday that it established a land-based test site within its R&D campus in Siheung, Gyeonggi Province as part of efforts to develop eco-friendly and smart ship technology. The newly-established facility is designed to verify the performance of propulsion systems used [...]

Hanwha Eyes Major Boost in Defense, Green Energy Drive with Envisioned Daewoo Shipbuilding Takeover

Hanwha Eyes Major Boost in Defense, Green Energy Drive with Envisioned Daewoo Shipbuilding Takeover

SEOUL, Sept. 26 (Korea Bizwire) — Hanwha Group’s push to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME) heralds a major boost for its key defense and green energy sectors amid widening efforts to streamline the business structure while expediting the leadership succession process. Hanwha, South Korea’s seventh-largest conglomerate, said it signed a conditional [...]