Korea Technology to Absorb Daewoo Shipbuilding & Marine Engineering Construction through Merger

[Asia Economy Reporter Oh Su-yeon] Korea Technology announced on the 23rd that it will absorb and merge Daewoo Shipbuilding & Marine Engineering Construction through a small-scale merger.

The purpose of the merger is to enhance shareholder value by increasing management efficiency and strengthening business competitiveness.

The merger ratio is 1 to 7.7052752 for Korea Technology and Daewoo Shipbuilding & Marine Engineering Construction, respectively.

The surviving company after the merger will be Korea Technology, and the dissolved company will be Daewoo Shipbuilding & Marine Engineering Construction.

The merger date is set for December 8.