Debt-laden Daewoo Shipbuilding & Marine Engineering (DSME) will get a critically important KRW2.8trn ($2.42bn) injection of cash so long as its labour union agree to a huge restructuring scheme, its creditors have said.
“Without a faithful commitment of the management and labour to share the burden, we will not consider any plans to help normalise the business, including financial structure improvement plan,” the stae-run creditors said in a statement.
To date, DSME’s labour union has rejected restructuring plans put forward.
