According to the Yonhap News Agency, Daewoo Shipbuilding & Marine Engineering Co., the world's second-largest shipbuilder by order backlog, is seeking to secure deals worth more than US$6.88 billion this year.

In 2019, Daewoo Shipbuilding won orders worth $6.88 billion to build 39 vessels, achieving 82 percent of its annual order target of $8.37 billion, according to the company official who spoke to Yonhap.

Last month, the European Commission launched an in-depth review of the proposed deal by Hyundai Heavy Industries to take over its smaller local rival, Daewoo Shipbuilding & Marine Engineering Co.

The EU's executive arm has said it will decide by May 2030 whether the takeover, if completed, is likely to significantly impede effective competition. The deal is subject to approval from antitrust regulators in South Korea and other countries, including Japan, China, Singapore and the European Union.

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