Troubled waters

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Troubled waters

A signboard at Korea Development Bank’s headquarters in Yeouido, southwestern Seoul, shows a meeting scheduled between STX Offshore and Shipbuilding and its creditors, including KDB, to discuss financial matters of the troubled shipbuilding group. STX Group has been suffering from a major credit crunch due to the sluggish global market. The shipbuilding group last week failed to attract buyers for its affiliate STX Pan Ocean. The shipbuilder yesterday submitted a voluntary debt-restructuring plan to creditors. [NEWSIS]

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