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Hanwha Group Completes Takeover of DSME, Set to Rebrand Company as Hanwha Ocean
By Seaandcoast | 09/05/2023
Hanwha Group has completed its takeover of one of South Korea’s largest shipbuilders, Daewoo Shipbuilding & Marine Engineering (DSME), and is set to rebrand the company as Hanwha Ocean. The proposed name change has already been submitted for trademarking and will be put to a shareholder vote on 23 May, when DSME will become a subsidiary of Hanwha Group.
 
The takeover of DSME by Hanwha Group is a significant event in the global shipbuilding industry. DSME is one of the big three of Korean shipbuilding, alongside Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI). The proposed takeover of DSME by HHI was blocked by the European Commission (EC) in January 2022, as it would have given it a dominant position in the market for the construction of LNG carriers.
 
Hanwha Group's acquisition of DSME will end a 45-year association with the Daewoo name, which was established in 1978 when Daewoo took over Korea Shipbuilding & Engineering Corp. The company has been a key player in the shipbuilding industry, known for its expertise in constructing high-value vessels, including LNG carriers, drillships, and ultra-large container ships.
 
As part of the takeover, nine new directors have been proposed, with Kwon Hyek-woong, vice president of Hanwha's Support Division, nominated as the new head of DSME. Kwon led the acquisition team for the shipyard since September last year.
 
The rebranding of DSME as Hanwha Ocean is expected to provide the company with a fresh start and new opportunities to grow and expand its business. Hanwha Group is a diversified conglomerate with interests in various sectors, including chemicals, energy, defense, finance, and construction.
 
In recent months, there have been several high-profile mergers and acquisitions in the shipbuilding industry, including the merger of Singapore’s Sembcorp Marine and Keppel Offshore & Marine, which became Seatrium in late April. These developments reflect the changing dynamics of the global shipbuilding industry, with companies seeking to consolidate their positions and leverage their strengths to meet the evolving needs of the market.
 
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ABOUT BRENT McEWEN
Brent McEwen continues to be a newbie hunt for your Noblemen due to the fact 04. Prior to be able to signing up for the actual Leaders, McEwen loved the diverse track record to be a gm, instructor in addition to tutor.

From 1997-2004, McEwen helped your Saskatoon Mower blades with the American Dance shoes League, in which he organised this subject connected with general manager, hockey as well as company procedures. He also ended up being mixed up in the Category exactly where they ended up being chairman from the workforce companies board; affiliated with the officiating and schooling committees; as well as different governor.

Prior to help joining this Mower blades, McEwen used 4 years within The european countries. For a single year this individual had been the national staff go coach for your Norwegian Ice Baseball Federation. Within 1995-96, this individual seemed to be the actual top mentor for Rogle BK from the Remedial Top notch League, along with before he provided for just two months because the brain mentor intended for Vita Hasten of the Remedial Department Just one little league.

Before enrolling in your expert rates, McEwen pertaining to Decade did wonders for the College or university of Saskatchewan where by their duties integrated instruction the College Tennis System; Growth and Management of the particular Baseball School; as well as educating.

A own associated with Whitewood, Saskatchewan, McEwen, Fifty four, graduated from your School connected with Saskatchewan with 1983. He with his fantastic better half, Ellen, have a couple of children: a new child, Duncan, and also a girl, Kirsten. They are now living in Saskatoon, Saskatchewan.