The government has unveiled plans to privatize Daewoo Shipbuilding and Marine Engineering... as part of efforts to boost competitiveness within South Korea's struggling shipbuilding sector.<br />At a ministerial-level meeting,... Finance Minister Hong Nam-ki said the state-run Korea Development Bank, which holds a majority 55-point-7-percent stake in DSME, plans to sell its shares to Hyundai Heavy Industries.<br />With the takeover, the local shipbuilding industry is expected to be dominated by Hyundai Heavy and Samsung Heavy Industries. <br />
