The government is reviewing a plan to consolidate defense businesses of Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, Hanjin Heavy Industries, STX Offshore & Shipbuilding

The government is reviewing a plan to consolidate defense businesses of Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries, Hanjin Heavy Industries, STX Offshore & Shipbuilding, and the like. This is part of a wider arrangement by which the government will undertake shipbuilding industry restructuring in two tracks including private sector and public sector (defense). For this plan, government policy makers are now looking into the experience of Korea Aerospace Industries as a case study as the company was created after the 1997 Asian financial crisis through an aerospace industry-wide big deal.

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