South Korea’s antitrust watchdog is likely to complete the review of the merger between two South Korean shipbuilding giants during the first quarter of the year, industry sources said Sunday, January 3, possibly paving the way for the creation of the world’s largest shipyard.
In March 2019, Hyundai Heavy Industries signed a deal to purchase a 55.72% stake in Daewoo Shipbuilding. The deal would lead to the creation of the world’s biggest shipbuilder with a global market share of around 20%.
KSOE currently has under its wing the group’s three shipbuilding units — Hyundai Heavy Industries, Hyundai Mipo Dockyard, and Hyundai Samho Heavy Industries.
The Fair Trade Commission, South Korea’s corporate watchdog, has been reviewing the merger since last year, but its decision was delayed due to the pandemic, according to the sources.
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