South Korea’s antitrust body, the Korea Fair Trade Commission (FTC), has conditionally approved HD Korea Shipbuilding & Offshore Engineering Co.’s acquisition of STX Heavy Industries Co. The merger is set to consolidate its position in the local ship engine market, raising concerns and necessitating regulatory conditions.
Market Dominance ConcernsHD KSOE’s acquisition will give it control over 70% of the local vessel engine market and 80% of the domestic engine component sector. The FTC has...