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Hanwha Ocean's endeavor to secure exclusive control of the Korean naval ship market was thwarted after rival HD Hyundai Heavy Industries (HHI) managed to avoid being banned from bidding for government contracts, according to industry officials, Wednesday.
Fierce competition between HD Hyundai Heavy Industries (HHI) and Hanwha Ocean in the naval shipbuilding sector has found its way to the lawmakers of the ruling People Power Party (PPP), who have tried to support the shipbuilders, which are located in each of their respective constituencies, according to industry officials, Tuesday.
![[Herald Interview] Bad bills happen when parties compete for popularity, says seasoned Assembly aide - Vimarsana News](https://res.heraldm.com/content/image/2023/08/02/20230802000580_0.jpg?1)
When parties are competing for public approval, the outcome is usually rushed bills that backfire with unintended consequences once they take effect as law, according to Je Bang-hoon, a legislative aide of more than 15 years. “All bills, whether introduced by a lawmaker or submitted by a ministry, come to the Assembly to be considered. Lawmakers author and sign bills, all of whose process is prepared and assis...
The battle between Hanwha and HD Hyundai over the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME) is about to come to an end. The Fair Trade Commission (FTC) said it will decide on April 26 whether to approve Hanwha's acquisition, via a 2-trillion-won rights offering, of the world's third-largest shipbuilder in terms of orders.
