Korea Technology Withdraws Merger with Daewoo Shipbuilding & Marine Engineering Construction

Korea Technology announced on the 30th that the board of directors has decided to withdraw the merger with Daewoo Shipbuilding & Marine Engineering Construction. The company explained that during the merger process, significant changes occurred in the external market environment and management conditions of the dissolving company (Daewoo Shipbuilding & Marine Engineering Construction Co., Ltd.), and after careful reconsideration, it was determined that withdrawing the merger would better contribute to enhancing corporate value and strengthening competitiveness.