SEOUL -- South Korean conglomerate Hanwha Group announced Tuesday the completion of the 2 trillion won ($1.5 billion) purchase of Daewoo Shipbuilding & Marine Engineering, renaming it Hanwha Ocean.
Business deals
South Korea's Hanwha completes takeover of Daewoo Shipbuilding
Money-losing shipbuilding giant renamed Hanwha Ocean
Daewoo Shipbuilding, now rebranded to Hanwha Ocean, operates a shipyard on the South Korean island of Geojedo. (Photo courtesy of Hanwha Ocean)
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