Hanwha signs takeover deal with DSME

This photo shows the Okpo Shipyard of Daewoo Shipbuilding & Marine Engineering Co. (DSME) on Geoje Island, about 470 kilometers southeast of Seoul, on Dec. 16, 2022. Earlier in the day, Hanwha Aerospace and other Hanwha subsidiaries signed a contract to take over the ailing shipbuilder pertinent to a Sept. 26 memorandum of understanding, under which they will participate in DSME's 2 trillion-won (US$1.52 billion) rights offering for a 49.3 percent stake and managerial control. (Yonhap)

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