The aim is to provide professional yard management for Sungdong Shipbuilding which has been under the control of the Export-Import Bank of Korea.
Sungdong creditors have been seeking a management prepared to take on supervision of the yard with TradeWinds reporting last month that Hanjin or Samsung heavy industries were the preferred parties.
Hyundai and Daewoo were ruled out of the running as they had no appetite to take on the management of further capacity.
The
