Korea Development Bank and Korea Mercury Decide to Provide Additional 1.2 Trillion Won Support to Doosan Heavy Industries

Confirmation of Financial Structure Improvement Plan and Other Business Normalization Measures

[Asia Economy Reporter Kangwook Cho] The Korea Development Bank and the Export-Import Bank of Korea announced on the 1st that they have finalized a plan to normalize the management of Doosan Heavy Industries & Construction and decided to provide an additional 1.2 trillion KRW to facilitate the smooth normalization process.

The creditors explained, "After comprehensively reviewing the results of due diligence on Doosan Heavy Industries & Construction and the feasibility of the financial structure improvement plan, we decided to provide an additional 1.2 trillion KRW necessary for the normalization process."

Previously, considering the tightening of the financial market due to the COVID-19 pandemic, the necessity to protect key national industries, and the financial structure improvement plan submitted by the Doosan Group, the creditors had already provided 1.8 trillion KRW to Doosan Heavy Industries & Construction.

The creditors stated, "It is expected that the financial structure of Doosan Heavy Industries & Construction will improve following the implementation of the financial structure improvement plan. We plan to thoroughly monitor the implementation of the normalization process, including the financial structure improvement plans of both Doosan Group and Doosan Heavy Industries & Construction, to ensure that the management normalization plan proceeds without any setbacks."