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22 May 2019 The on-line newspaper devoted to the world of transports 06:35 GMT+2



January 31, 2019

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Original news
Hyundai Heavy Industries in negotiations with the Korea Development Bank in order to acquire the control of the DSME

The state financial institution will probe also the interest of Samsung Heavy Industries

In South Korea a great concentration in the field of the shipbuilding is outlined. The group Hyundai Heavy Industries (HHI) has in fact undersigned a temporary agreement with Korea Development Bank (KDB) for dealing the acquisition of 55.7% of the capital of Daewoo Shipbuilding & Marine Engineering Co. (DSME) prisoner from the state financial institution.

However the HHI will not be the only interlocutor of the KDB with which leading the negotiations for the possible passage of property of the quota control of the DSME. Announcing today the understanding with Hyundai Heavy Industries, the financial institution has specified that the interest to the acquisition of the quota by the South Korean navalmeccanica company Samsung Heavy Industries will probe also. The president and managing director of the Korea Development Bank, Lee Dong Gull, have clarified that if with the HHI a memorandum is signed of understanding, this does not mean that this company will relatively enjoy privileges or benefits to the possible cession of the parcel of shares.

The announcement of the possible sale of the state shareholding enterprise in the DSME is not received with favor from the unions. The Korea Metal Workers' Union has intimato to stop the unilateral procedure of sale of the quota, "transattivo agreement behind closed doors - it has denounced the labor organization - in which instead must be involved the representatives of the workers and that - has evidenced KMWU - it risks to put in danger the survival of beyond 250 thousand people. The union therefore has exhorted the KDB to cancel all the programs of sale and to involve the union for eventually being able successively to activate negotiations of sale that protect the interests of the workers and the citizens, pain the start of decided initiatives of abstention from the job.

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