Dongbu Construction consortium will takes over Hanjin Heavy Industries & Construction.
KDB Korea Development Bank announced on the 15th that a consortium consisting of Dongbu Engineering & Construction and Eco-Prime Marine Enterprise Financial Stability Private Investment signed a contract to purchase 66.85% of Hanjin Heavy Industries issued shares from Hanjin Heavy Industries & Construction creditors.
Dongbu Engineering & Construction, the consortium's organizer, is counting on Hanjin Heavy Industries & Construction's offshore floating platform.
This is because Dongbu Construction is strengthening its portfolio of new offshore power plants such as offshore wind power and offshore solar power in line with the Korean government's Green New Deal policy. Dongbu Construction also expects to generate synergy with Hanjin Heavy Industries & Construction's shipbuilding and construction sectors.
Hanjin Heavy Industries & Construction operates the same construction business as Dongbu Construction, but each has its own business area.
Reporter Lee Ji-sun stockmk2020@gmail.com