Hyundai Heavy Industries to split into six subsidiaries

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Hyundai Heavy Industries to split into six subsidiaries

Board members of Hyundai Heavy Industries voted on Tuesday to divide the leading shipbuilder into six independent units.

Amid ever-shrinking shipbuilding orders, the company has recently been selling off units that bear little relevance to shipbuilding such as the hotel and trade company and opted for the strategy of concentrating on core businesses.

The company will place shipbuilding, marine and engine under a single unit while spinning off construction equipment, green energy, robot and service units.

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