The forced resignation of 260 senior managers at Hyundai Heavy Industries (HHI) this week is the first significant step in what is expected to be a major shake-up of the troubled business after three decades of unparalleled expansion.

Recently appointed president Kwon Oh-gap, working alongside chairman Choi Kil-Sun, told the senior managers at Hyundai Group yards to reapply for their jobs, with only two-thirds expected to be reinstated.

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