Korea Development Bank: "Daewoo Shipbuilding Strike Causes 800 Billion Won Loss... Various Sale Options Under Review"

Kang Seok-hoon, President of Korea Development Bank (right), and Yoon Jong-won, President of Industrial Bank of Korea, are attending the full meeting of the Political Affairs Committee held at the National Assembly on the 28th, having a conversation. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Buaeri] Kang Seok-hoon, chairman of the Korea Development Bank, stated on the 28th that they are "reviewing measures to strengthen competitiveness and various sale options" regarding the sale of Daewoo Shipbuilding & Marine Engineering. The Korea Development Bank is the major shareholder of Daewoo Shipbuilding & Marine Engineering.

Chairman Kang made this remark during the plenary session of the National Assembly's Political Affairs Committee in the morning, responding to a question from Yoon Chang-hyun, a member of the People Power Party, about the sale plan of Daewoo Shipbuilding.

Kang said, "We are reviewing this from the perspective of the entire shipbuilding industry rather than just handling the company," adding, "The consulting results will come out in one to two months, and rather than being finalized immediately, there will be extensive discussions among government ministries."

The Korea Development Bank also stated in its business report on the same day that "based on the bank's management consulting results, it plans to establish a mid- to long-term management plan through consultations with creditors and stakeholders."

Additionally, the bank analyzed that the subcontractors' union strike, which lasted until the 22nd, caused massive production disruptions and losses, leading to a decline in external credibility. The bank estimated losses of about 800 billion KRW due to decreased sales and fixed cost expenditures and stated that turning a profit this year would be difficult.

This content was produced with the assistance of AI translation services.