Mr Jung Jun-yang, chairman of South Korea’s largest steel maker Posco, said in his new-year message that the company will strengthen its offshore plant business.

Regarding his remark, industry pundits guess Mr Jung is considering the acquisition of Daewoo Shipbuilding & Marine Engineering which builds world class offshore plants.

They say he already started to draw a big picture including the world’s third largest shipbuilder.

Mr Jung said at a kick-off ceremony for new year 2010, “We have been examining what we could do in the ocean for long. From this year, we will more actively seek business opportunities in the marine sector including ocean resources development such as wind power and tidal power businesses.”

Although he did not directly refer to the purchase of controlling stake in Daewoo, industry players say he virtually has the shipbuilder in mind.

Daewoo is one of the leading shipbuilders which design, construct and install offshore plants.

Source: Asiasi

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