Daewoo Shipbuilding & Marine Engineering plans to sell its headquarters building to Mirae Asset Global Investments Co. for more than 180 billion won.

According to industry sources on November 3, Mirae Asset Global Investments was named as the prime negotiator for the purchasing of DSME’s headquarters building in downtown Seoul. The sale price is reported to be around 186 billion won.

In a closed bidding held in late last month, a string of asset management companies participated, including Mirae Asset Global Investments, Kiwoom Asset Management, and Koramco REIT.

Built in 1986, the shipbuilder’s headquarters building has a floor space of 24,854 square meters, with 17 above-ground floors. After suffering more than 4-trillion-won operating losses in the second and third quarter of this year, Daewoo Shipbuilding & Marine Engineering has been undergoing a painstaking restructuring process for survival.

The sale of the building is part of its 1.85 trillion won self-rescue effort, including payroll cuts, wage freezing, and asset sales. These plans came after its creditors and financial institutions decided to extend a financial aid of 4.2 trillion won.

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