China has given its nod of approval for the proposed merger between the two South Korean shipyard groups Daewoo Shipbuilding & Marine Engineering (DSME) and Korea Shipbuilding & Marine Engineering Co (KSOE).
China's antitrust watchdog, the State Administration for Market Regulation (SAMR), said the planned $1.8b merger between DSME and KSOE, which comprises of subsidiaries Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries, did not violate any antitrust rules or hurt fair competition in the world's second-largest economy.
