Chonhaiji, which has 39.4% of Chonghaejin Marine Company, has debts of $34m with Korea Development Bank.
It applied to a court in Changwon last week, a court official told Reuters.
The ship block maker last year branched out into full shipbuilding, winning an order to build a $21.6m plate/coil carrier from steel maker Posco.
It reported net profit of KRW 1.01bn ($1m) for 2013, but missed some debt repayments last month as its business suffered in the aftermath of the ferry disaster.
Chonhaiji
