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DSME to Sell Subsidiaries Other than Merchant, Specialized Vessels, Offshore Plants


Daewoo Shipbuilding & Marine Engineering Co.DSME ) CEO Chung Sung-leep said on May 29, “In order to not disperse our resources by business diversification, we will focus on our core businesses, which are merchant vessels, specialized vessels, and offshore plant sectors as much as possible, and resolutely sell other sectors.

CEO Chung Sung-leep of Daewoo Shipbuilding & Marine Engineering (DSME).

During the inaugural address, newly-elected CEO Chung made such remarks in an extraordinary general meeting. Also, he presented five management policies of the company and encouraged employees to work together in a bid to make stronger DSME in the economic stagnation.

He said, “Holding fast to basic principles, I will make a predictable organizational culture. Raising efficiency and professionalism of its every support organization with respect to production, I will carry out management that focuses on production.”

Chung added that the company will concentrate on the merchant vessel, specialized vessel, and offshore plant sectors so the company’s resources will not be dispersed by its business diversification. Also, he said that the company will boldly close down businesses in other sectors.

Chung also made it clear that he will seek for and fix practices to pay unnecessarily high prices in terms of cost.

He said, “We are the undisputed top shipbuilding and marine company. The way we work is the global standard and the technology we have developed is the industrial standard. Therefore, we will revive its glory and lead the industry, even facing difficulties.”


The Original Posted by Cho Jin-young / Business Korea