More aid has been approved by state-run banks for one of South Korea’s largest yards. Korea Development Bank and Export-Import Bank of Korea will hand Daewoo Shipbuilding & Marine Engineering (DSME) another $178m next week, adding to the hundreds of millions already handed out as DSME fights a slumping orderbook and a massive accounting scandal.
DSME is pushing through its own restructuring plan, selling off assets and slimming its workforce.