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Analysis Why a South Korean defense contractor is betting on green shippingHanwha’s acquisition of Daewoo Shipbuilding promises new growth trajectories but faces financial and production hurdles Hanwha Group has partially acquired Daewoo Shipbuilding & Marine Engineering (DSME), taking a 49.3% controlling stake in the shipbuilder. And this development could be a boon for efforts to push forward more environmentally friendly shipping practices. DSME is one of South Korea’s largest shipbuilding companies and had a successful year, recording a much higher value of orders than its initial yearly target thanks to increased demand for LNG carriers. But DSME has struggled with uncertainty and losses, notably due to setbacks in Indonesia’s submarine acquisition program. The company’s short-term debt is around $2.2 billion (2.9 trillion KRW). In addition, © Korea Risk Group. All rights reserved. |





