April 26, 2024

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[THE INVESTOR]The Nation Pension Service, a major bondholder of Daewoo Shipbuilding & Marine Engineering, said on April 13 it ready for talks on revival plans for the ailing shipbuilder

The shift in stance toward negotiations with the main creditors of DSME has raised the prospects of saving it, according to industry watchers.

Earlier in the day, Lee Dong-geol, chief of the state-run Korea Development Bank, the main creditor for the embattled shipbuilder, said the bank is willing to negotiate with the NPS.

The remarks by Lee came as the NPS, a major bondholder of DSME, is set to hold a meeting later this week to decide whether to accept a debt-for-equity swap plan, seen as a crucial test to receive fresh funds to repay its debts.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)