[Photo by Daewoo Shipbuilding & Marine Engineering Co.]
Daewoo Shipbuilding & Marine Engineering Co. (DSME) will work on drawing $7.7 billion in new orders this year, up 37 percent from $5.6 billion in 2020.
DSME, however, projected sales would fall this year due to Covid-19 caused global economic slump. To weather the challenging year, the shipbuilder will make various cost-cutting efforts, involving all employees. It said senior executives including CEO Lee Seong-geun agreed on up to 50 percent cut in their salary. Other employees will participate by minimizing their overtime works.
In addition, the company plans to secure 1 trillion won or more of funds for operation by selling assets.
On Wednesday, DSME shares are trading down 1.1 percent at 26,700 won ($24.17) in the early afternoon.
By Cho Jeehyun
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]