S.Korea pension fund accepts Daewoo Shipbuilding bailout proposal

The logo of Daewoo Shipbuilding & Marine Engineering Co is seen at its building in Seoul, South Korea, March 24, 2017. REUTERS/Kim Hong-Ji

A South Korean pension fund on Monday accepted a debt-to-equity swap proposal for bondholders of troubled Daewoo Shipbuilding & Marine Engineering, greenlighting the country’s latest plan to bail out the world’s largest shipbuilder.

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