Daewoo Shipbuilding & Marine Engineering Sells All Corporate Helicopters

Michael Song, Dec. 2, 2015, 9:52 a.m.

Daewoo Shipbuilding & Marine Engineering announced that it has sold all of its helicopters. The company is cleaning up its non-core assets to normalize management. Daewoo Shipbuilding & Marine Engineering owned two Sikorsky helicopters that can each seat 14 people, and used them to transport key figures and guests.

However, after the Geoga Bridge connecting Busan and Geoje Island was built in 2010, it became easier to reach nearby cities. Daewoo sold one helicopter in July 2013 and ran only one chopper until now. However, due to the company’s large losses, Daewoo sold the other helicopter on November 30. The price was said to be around 2.5 billion won.

In the future, Daewoo is planning to transport important guests by VIP bus. Daewoo Shipbuilding & Marine Engineering has already sold its affiliate company FLC, a building in Shinmunro, and the stocks it held. Company officials are now planning to sell the Seoul headquarters building, and a corporate building in Dangsan to raise cash.

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