Korean Development Bank can not save Daewoo

Korean government wants Samsung Heavy Industries (SHI) to take over Korean Development Bank (KDB) controlled Daewoo Shipbuilding Marine Engineering (DSME). Korean Development Bank (KDB) was forced to step in to rescue the struggling Daewoo Shipbuilding Marine Engineering (DSME). with a massive $3.68 billion bailout package at the end of 2015. Korean shipbuilding sector to be restructured and the number of shipbuilding giants might be cut down to one or two. For Samsung, shipbuilding is not a core activity and comprising just 3% whereas financing and electronics is over 70%.

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