SEOUL -- Hyundai Heavy Industries Group has inked a deal to consolidate two of South Korea's biggest shipbuilders as the industry struggles amid heavy debts and growing losses.
Business deals
Hyundai Heavy to buy Daewoo Shipbuilding in industry shake-up
Move comes as South Korean shipbuilders struggle with heavy debts and losses
Daewoo Shipbuilding is one of South Korea's Big Three shipbuilders, but has struggled in recent years. (EPA/Yonhap/Jiji)
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