Major Korean shipbuilders will have to redeem or refinance bonds worth KRW 2.22 trillion ($1.89bn) next year.

Industry sources told the Korea Herald that DSME alone faces a bill of KRW 940bn in 2017.

The yard holds cash and cash equivalents of KRW 749bn as it seeks to restructure in the downturn.

Short-term debt stands at KRW 5.2 trillion.

"We are working on a plan to handle maturing debts, and a maturity extension may be possible for part of the short-term debts," a company official said.

Samsung