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South Korea throws shipbuilder Daewoo new US$6b lifeline

Seoul criticised for backtracking on pledge to stop injecting fresh funds in the company
Friday, March 24, 2017 - 05:50

Seoul

SOUTH Korea offered troubled Daewoo Shipbuilding & Marine Co a new US$6 billion bailout on Thursday as the giant firm's financial crisis worsens.

Daewoo is the world's largest shipyard in terms of its order book and was previously given a 4.2 trillion won (S$5.25 billion

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