Banks urged to play 'responsible role' in normalizing Daewoo Shipbuilding
MarketsApr 21, 2017
South Korea's top financial regulator on Friday called for heads of banks to play a "responsible role" in normalizing Daewoo Shipbuilding & Marine Engineering Co., as the bailout plan for the troubled shipbuilder was cleared by its stakeholders. Zhin Woong-seob, governor of the Financial Supervisory Service, also asked banks not to aggressively collect debt from shipbuilders and their subcontractors, given their financial strains over a downturn in the shipbuilding industry. I