Daewoo Heavy Industries Co. (DHI)announced a loss in the first- half of this year of 337.7 billion won ($302.9 million), compared with net income of 53.2 billion won in the same period last year. DHI is undergoing a reorganization to divulge itself of money-losing operations, as are many of the large Korean industrial conglomerates. Current plans plans call for a split in the shipbuilding and construction equipment businesses into separate units, leaving the remaining company with nonoperating assets, including stakes in Daewoo Motor Co. The division is set for Sept. 1 after several delays. Sales totaled 2.08 trillion won, down from 3.11 trillion won in the same period in 1999, in part because a stronger won meant dollar-denominated ship sales converted into fewer won in the accounts.
