Sungdong Shipbuilding heading toward court receivership, STX to push for self-reliance

성동조선, 결국 법정관리 갈 듯… STX는 자구노력 후 생존
Two Korean shipbuilders are struggling to stay afloat amid the tough conditions in the global industry.
According to a government official on Wednesday,… Sungdong Shipbuilding, a mid-sized local shipbuilder is expected to soon go into court receivership.
Once the company applies for receivership, the court will decide whether to liquidate it or search for a new buyer.
STX, which is also facing serious financial woes, will reportedly push ahead with more intense self-reliance measures in a bid to turn its fortunes around.
Both shipbuilders have been struggling despite government help over the years.

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Sungdong Shipbuilding heading toward court receivership, STX to push for self-reliance

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Kane Dane