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[K-MOVE] Hyundai Heavy Industries' Bid for DSME
2019-02-26 |
조회 45
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South Korea's Hyundai Heavy Industries Company (HHI) has been picked as the sole candidate to take over its 18-year-old local rival, Daewoo Shipbuilding & Marine Engineering Company (DSME).

The state-funded Korea Development Bank (KDB) has selected HHI, the world's largest shipbuilder, as a candidate for the acquisition of DSME. KDB is Daewoo Shipbuilding's main creditor, with a 55.7 percent stake in the company.

If materialized, the acquisition deal will revamp South Korea's shipbuilding industry to be under a two-top system -- HHI and Samsung Heavy Industries Company.

The acquisition deal involving the world's two largest shipyards by sales is also expected to drastically change the global shipbuilding industry.

[Hong Seong-In, Ph.D. researcher, Korea Institute for Industrial Economics and Trade]
"If the technologies (built up by DSME) meet the needs of Hyundai Heavy Industries, they would generate a significant synergy effect. However, there are some concerns that the merger will probably reduce the size of the industry."