South Korea’s Sungdong Shipbuilding and Marine Engineering Co is set to file for court receivership, the country’s finance minister has said.
Kim Dong-yeon made the announcement during a policy meeting aimed at strengthening the country's industrial competitiveness in Seoul, reported the Yonhap news agency.
Separately, he said the government has asked STX Shipbuilding to present a “high-intensity restructuring plan” within a month.
