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South Korea to make reasonable decision on Hyundai Heavy’s acquisition of Daewoo Shipbuilding

Logistic News - Published on Thu, 14 Mar 2019

Image Source: trusteddocks.com
Yonhap quoted that South Korea’s antitrust chief as saying that the government will make a reasonable decision on the acquisition of Daewoo Shipbuilding & Marine Engineering Co by Hyundai Heavy Industries Co, which could lead to the creation of the world’s largest shipbuilding group. Kim Sang-jo, head of the Fair Trade Commission, said that the commission will decide on the issue quickly in a way that can serve as a reference for antitrust regulators of other countries.

Kim said in a meeting with South Korean reporters in Brussels, where he was visiting, noting it is meaningless if other countries do not approve the acquisition, “A key issue is to make antitrust regulators of other countries accept our judgment.”

Hyundai Heavy’s acquisition of Daewoo Shipbuilding is subject to approval in South Korea as well as by antitrust regulators of other countries that can be affected by the acquisition.

Source :

Posted By : Ratan Singh on Thu, 14 Mar 2019
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