Amid the growing political and economic row between South Korea and Japan, Hyundai Heavy Industries (HHI) faces fresh concerns over its decision to acquire Daewoo Shipbuilding & Marine Engineering as it needs to get approval from Japan’s regulators amid a widespread anti-Korean sentiment.
After submitting a request for formal approval from Korea’s Fair Trade Commission early this month, HHI is slated to make similar requests to antitrust watchdogs in Japan, China, Kazakhstan, and the European Union.
Getting approval from the countries is necessary as the possible merger of the two major shipbuilders may reshape the global shipbuilding landscape with their dominant market position.
Full Content: The Korea Herald
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