CCCS raises competition concerns on proposed merger of S Korean shipbuilders

Singapore

THE Competition and Consumer Commission of Singapore (CCCS) has raised concerns on the proposed merger of two South Korean shipbuilders.

This follows its completion of the first phase review of the proposed acqusition by Korea Shipbuilding & Offshore Engineering Co Ltd (KSOE) of a majority interest in Daewoo Shipbuilding & Marine Engineering Co Ltd (DSME) and the intended integration of their businesses.