Hyundai Heavy Industries' shareholders approve split-up plan despite union backlash
- 5 years ago
현대중공업 주총서 회사분할 승인…대우조선 인수 첫 관문 통과
Shareholders have approved a plan to split up Hyundai Heavy Industries, bringing it one step closer to a merger with Daewoo Shipbuilding & Marine Engineering.
Workers at both firms have strongly opposed the merger, fearful of further job losses.
Today's decision means Hyundai Heavy would be split into a subholding company called Korea Shipbuilding & Marine and a reorganized Hyundai Heavy Industries, in charge of shipbuilding and offshore businesses.
Shareholders have approved a plan to split up Hyundai Heavy Industries, bringing it one step closer to a merger with Daewoo Shipbuilding & Marine Engineering.
Workers at both firms have strongly opposed the merger, fearful of further job losses.
Today's decision means Hyundai Heavy would be split into a subholding company called Korea Shipbuilding & Marine and a reorganized Hyundai Heavy Industries, in charge of shipbuilding and offshore businesses.