According to a report from The Korea Times, following troubled construction firms and savings banks, the Korean government and creditor banks are now moving to put small-and medium-sized shipbuilders under the microscope for drastic restructuring. The preemptive restructuring is to minimize chain reaction bankruptcies of once-booming small-and medium-sized shipbuilders, suffering from cash flow problems in the wake of the global financial market turmoil. Analysts say that large shipbuilding firms will ride out the current difficulties, as they have ample cash holdings and enough orders for the next several years. According to a Nov.
