South Korean shipbuilder DSME will inaugurate its new chief executive Sung-Geun Lee on Monday.

Outgoing chief executive Sung-Leep Jung, who was parachuted in to restructure DSME in 2015, retires from the company today.

A spokesman for DSME, which is due to be merged with compatriot shipbuilder Hyundai Heavy Industries, said: “Lee will focus on securing competitive edges based on technological superiority and serving clients with the best products both commercially and technically, for which he would like to take more opportunities to listen to the voice of our clients.”