Finance
Hanwha to be chosen as priority negotiator
Hanwha finally won the bidding war for Daewoo Shipbuilding & Marine Engineering (DSME) sale and was chosen as the priority negotiator, beating off Hyundai Heavy Industries. Korea Development Bank (KDB) confirmed in its main office in Seoul Friday tha...
2008-10-24 16:00:00
Hanwha, priority negotiator?
Hanwha consortium is reportedly highly likely to be chosen as the priority negotiator for Daewoo Shipbuilding & Marine Engineering sale. An official in financial sector revealed Hanwha got the highest marks after KDB’s investigation of bid packa...
2008-10-24 10:05:55
EC Competition Policy on Restructuring of Polish shipyards
The European Commission is well aware of the historic importance and the symbolic value of the Polish shipyards. This is why we have been working very hard to find a solution that would allow the restructuring of the sector in a way that provides a l...
2008-10-23 16:21:41
European Parliament to debate Polish shipyards
The fate of Polish shipyards is to be debated 22th(:wednesday) during a session of the European Parliament in Strasbourg. Neelie Kroes, the European Commissioner for Competition, is also to take part in the debate. The discussion on the fate of th...
2008-10-23 09:33:44
Posco eligible for fresh re-bidding for DSME sale
Another new situation is developing concerning the Daewoo Shipbuilding & Marine Engineering (DSME) sale promoted by Korea Development Bank (KDB). KDB internally examined whether POSCO would be able to bid again in case the current DSME sale is not...
2008-10-23 07:05:38
Shipbuilders out of accounting illusion
South Korean shipbuilding companies, of which appraisal losses have soared owing to their foreign exchange hedging, now can avoid the risk of capital encroachment. Financial Services Commission (FSC) of the country announced Wednesday that it appr...
2008-10-22 15:57:23
Hanwha wins the bidding race for DSME?
As POSCO got ‘disqualified’ in the bidding battle for Daewoo Shipbuilding & Marine Engineering (DSME), the battle became a two-sided contest between Hanwha and Hyundai Heavy Industries (HHI). With the final decision a couple of days ahead, exp...
2008-10-20 07:05:50
Stena gets financial support from KEIC
1.5 trillion won ($1.13 billion) of export insurance will be offered for drillship ordered by Sweden’s Stena, to be constructed at Samsung Heavy Industries. Korea Export Insurance Corporation (KEIC) said October 16 it had decided to provide expo...
2008-10-17 10:54:00
POSCO disqualified for Daewoo buyer
State-run Korea Development Bank decided on Thursday to disqualify POSCO as a potential buyer for Daewoo Shipbuilding. "In order to ensure a fair and transparent auction, we came to a conclusion that POSCO is not eligible for the bid," the state-r...
2008-10-17 08:52:26
Accounting issue to be identified formally
Kwang-Woo Jun, Chairman of Financial Services Commission of South Korea, said Thursday the commission would positively examine the plan to change the accounting standard for foreign exchange hedge derivatives. On the day, at the inspection of the ...
2008-10-16 16:38:41
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