Police raid DAPA over alleged corruption in KDDX bidding

Police raided the arms procurement agency over allegations that it manipulated conditions to select HD Hyundai Heavy Industries (HD HHI) as the preferred bidder for the basic design of the 7.8 trillion won ($5.82 billion) KDDX project.

2023-08-17

Hanwha Ocean reports 159.1 billion won loss in Q2

Hanwha Ocean, formerly known as Daewoo Shipbuilding & Marine Engineering (DSME), failed to make a turnaround in the second quarter mainly due to one-off costs such as higher outsourcing costs and higher wages.

2023-08-14

Hanwha's acquisition approved by DSME shareholders

Shareholders of Daewoo Shipbuilding & Marine Engineering (DSME) approved Hanwha's proposal to acquire the money-losing shipbuilder on Tuesday, finalizing the 2-trillion-won ($1.5 billion) deal.

2023-05-23

Hanwha agrees to bonuses for DSME employees

Hanwha, which will acquire Daewoo Shipbuilding & Marine Engineering (DSME) on May 23, agreed to reward the employees of the acquired shipbuilder with a merit-based bonus equivalent to 300 percent of their base wage upon achieving their targets.

2023-05-22

DSME reports net loss of 120.4 billion won in first quarter

Daewoo Shipbuilding & Marine Engineering (DSME) reported a net loss of 120.4 billion won ($90.5 million) in the first quarter, larger than what was anticipated.

2023-05-15

DSME board approves new directors, new name after acquisition gets green light

The board of Daewoo Shipbuilding & Marine Engineering (DSME) approved the new directors recommended by Hanwha and a company name change on Monday.

2023-05-08

Korean arms companies are on the front lines of defense here and abroad

Hanwha Aerospace, KAI, LIG Nex1, Hyundai Rotem and DSME have seen a surge in orders as more countries are significantly upping their arms budgets in the wake of the Russia-Ukraine war. Experts say the Korean defense industry may benefit from...

2023-05-03

DSME acquisition could be approved by shipbuilder's board soon

The board of Daewoo Shipbuilding & Marine Engineering (DSME) will likely approve the acquisition by five Hanwha companies of the debt-ridden shipbuilder next Monday, according to local media reports on Tuesday.

2023-05-02

FTC conditionally approves Hanwha acquisition of DSME

Korea's antitrust regulator approved the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME) on the condition that the parties won’t engage in anticompetitive behavior in military shipbuilding.

2023-04-27

DSME acquisition approved by Korea with conditions

Korean antitrust regulators approved the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME) on the condition that the parties won’t engage in anticompetitive activities in the military shipbuilding.