(MENAFN) Daewoo Shipbuilding & Marine Engineering Co. sold off its headquarters building in Seoul for USD150mn to a regional asset manager.Additionally, the firm plans to reduce its workforce by almost 20 percent before the end of the year and aims to sell other noncore assets.However, in the first half of the year, Daewoo Shipbuilding suffered a net loss of 1.19tr won with its debt ratio surpassing 7.000 percent.S. Korean shipbuilders have been under financial strain since the 2008 global economic crisis, which sent new orders tumbling amid a glut of vessels.
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