Chung Sung-rip, current CEO of Daewoo Shipbuilding & Marine Engineering, clarified his stance on a possible acquisition of STX France on June 25.
STX France is a shipyard with specialty in cruise ships. Korea Development Bank has a 66.7-percent stake in the shipyard and is looking for a buyer. DSME has also reviewed the feasibility of acquiring it.
In a press conference held first since he was promoted last month as the CEO, he said, “It is certain that the cruise business is one of the areas that DSME should go for in the future. However, I think this is too early for us to enter the business.” Chung added, “Our business is not performing well this year and the union is in opposition to it.”
He stressed that among DSME’s three major business portfolios, consisting of offshore plants, merchant ships, and special-purpose ships, it is needed for DSME to reduce the share of offshore plants, adding that the share of offshore plants, merchant ships, and special-purpose ships will be upgraded into 40:50:10 from the current 55:35:10.
