Govt. decides on court receivership, self-help for medium shipbuilders
Mar 8, 2018
South Korea's government decided on Thursday to place one midsize shipbuilder under court receivership and told another to implement a self-help program as part of its broader effort to streamline the ailing shipbuilding industry.In the latest financial assessment of Sungdong Shipbuilding & Marine Engineering Co. and STX Offshore & Shipbuilding Co. (STX O&S), creditors such as the state-run Korea Development Bank (KDB) and the Export-Import Bank of Korea (Korea Eximbank) reached the conclusion t