NPS seeks damages from DSME

[THE INVESTOR] National Pension Service has filed a 48.9 billion won (US$ 43 million) compensation suit against Daewoo Shipbuilding and Marine Engineering, it was revealed on July 14.

The NPS said that it has filed a suit against 10 Deloitte Anjin, and DSME executives. It did not elaborate on how the amount was calculated.

The prosecution investigating corruption at the shipbuilder estimates that DSME’s mismanagement led to the country’s financial industry sustaining more than 10 trillion won in damages.

In 2013, the NPS held 9.12 percent of the shipbuilder, but reduced its stake to 0.16 percent by August 2015. In the process, it is estimated to have lost 99 billion won.

By Choi He-suk (cheesuk@heraldcorp.com)