Financially troubled STX Offshore & Shipbuilding is set to close its Busan facility this summer as it begins a major downsizing of its business that will see foreign yards sold off.
The group is scaling down its shipbuilding activity at Busan and will instead concentrate production at its domestic Chinhae and Goseong shipyards.
STX Busan is equipped with two berths and is capable of delivering eight vessels of less than 13,000 dwt a year.
