Established in Busan in 1945, a Local Company Leading the Regional Economy and Shipbuilding Industry
Committed to Becoming a Global Mid-sized Shipbuilder through Independent Management and Stable Order Acquisition
Daesun Shipbuilding held the 'NEW Daesun Shipbuilding Launch Ceremony' at 10:30 AM on April 30th at the outdoor dry dock of Daesun Shipbuilding Yeongdo Shipyard.
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Daesun Shipbuilding, the second shipyard in South Korea, held a new launch ceremony.
Daesun Shipbuilding (Chairman Jang In-hwa) held the "NEW Daesun Shipbuilding Launch Ceremony" at 10:30 a.m. on April 30th at the outdoor dry dock of Daesun Shipbuilding Yeongdo Shipyard, officially graduating from the creditor management system of the past 10 years and declaring a new independent management.
The event was attended by more than 100 guests including heads of related organizations, major businesspeople, and executives and employees, who gave congratulatory applause.
Daesun Shipbuilding established its foundation in 1945 on the site of the Busan Yeongdo Shipyard and started as the second shipbuilding company in Korea.
It is a representative local shipbuilding company that has led the development of the regional small and medium-sized shipbuilding industry for 76 years.
Daesun Shipbuilding was on a growth track due to the booming shipbuilding market but suffered liquidity shortages due to mass cancellations of order contracts following the global financial crisis in 2008, and had to endure harsh restructuring after entering creditor management in 2010.
Through restructuring over the past 10 years, it achieved operating profits for two consecutive years in 2018 and 2019.
The main creditor, the Export-Import Bank of Korea, also initiated a public sale process last August based on Daesun Shipbuilding’s improved conditions.
Subsequently, in October 2020, the consortium led by Dongil Steel was selected as the preferred negotiation partner. The Dongil Steel consortium includes five representative local companies?Dongil Steel, Sewoon Steel, Dongwon Housing, Dongwon General Trading, and Dongil Suite?igniting the spark for a new leap forward.
Through the official launch ceremony, Daesun Shipbuilding solidified its dream of becoming a global medium-sized shipbuilder based on the management efficiency experience accumulated over the past 10 years and the support of major local companies.
A Daesun Shipbuilding official said, “With the $400 million (KRW 445 billion) contract for eight SUS Chemical Tankers signed on April 23 as a signal, we plan to secure stable future orders and establish our position as a global shipbuilder in the small and medium-sized vessel construction sector.”
Chairman Jang In-hwa of Daesun Shipbuilding expressed strong determination, saying, “Daesun Shipbuilding has emerged from a long dark tunnel and stands at the threshold of a new future. We will develop technological capabilities, pioneer overseas markets, and become a model company where labor and management coexist through transparent ethical management.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
