FSS chief urges banks to normalize DSME
[THE INVESTOR] Korea’s top financial regulator on April 21 called for heads of banks to play a “responsible role” in normalizing Daewoo Shipbuilding & Marine Engineering.
Zhin Woong-seob, governor of the Financial Supervisory Service, also asked banks not to aggressively collect debt from shipbuilders and their subcontractors, given their financial strains over a downturn in the shipbuilding industry.
It is the first time that the financial regulator asked for cooperation with banks since June last year, when the government announced a set of plans to restructure the nation’s top three shipbuilders.
By Alex Lee and newswires (firstname.lastname@example.org)