AsiaShipyards

Hanwha seals DSME takeover 

Photo of Sam Chambers Sam ChambersDecember 21, 2022
952 Less than a minute
DSME

The Korea Development Bank (KDB) has announced that Hanwha Group officially acquired Daewoo Shipbuilding & Marine Engineering (DSME) in a deal worth KRW2trn ($1.5bn) .Hanwha Group now owns a 49.3% controlling stake in the giant shipbuilder. \

“Several structural changes to DSME’s finances will be made through this acquisition, laying the groundwork for the normalization of the company’s operations,” KDB stated. 

The merger still needs to be approved by South Korea’s Fair Trade Commission and similar bodies around the world. 

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Photo of Sam Chambers Sam ChambersDecember 21, 2022
952 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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