Daewoo mulls plant in North Korea

Daewoo Shipbuilding & Marine Engineering (DSME) may consider building a $150 million block plant in North Korea to help meet rising demand, the Yonhap new agency reported quoting the Daewoo’s President, Sahng Tae Nam.

Sahng’s remark came after a three-day summit between South Korean President Roh Moo-hyun and North Korean leader Kim Jong-il. The two leaders have agreed to set up cooperative complexes for shipbuilding in Anbyeon, a port on the North’s east coast and Nampo, another port on its west coast.