The world's largest shipbuilder said on Wednesday it had reorganised and downsized units by establishing a new sales headquarters.

This means the merger its own sales operations with those of subsidiaries Hyundai Mipo Dockyard and Hyundai Samho, it said in a statement seen by the Yonhap news agency.

The Korean group has also rejigged its planning division to boost its competitiveness.

It now has 45 divisions rather than 58 overall.