Samsung Heavy shares drop on potential compensation for ship defect

Samsung Heavy Industries

18/12/2023 01:35

** Shares of Samsung Heavy Industries  010140.KS  fall as
much as 8.8% to their lowest in a month
    ** Samsung Heavy, one of the biggest shipyards in the world,
said an arbitration found it should pay 378.1 bln won ($290.89
mln) to an affiliate of SK Shipping for a defect in a delivered
ship that led to suspended operation
    ** Co said the arbitration is not final and depends on the
outcome of lawsuits in South Korea
    ** Added it is in talks with SK and Korea Gas Corp that
developed new technology associated with the ship's defect, and
that if talks fail, it will seek recompense from Korea Gas Corp
    ** The broader KOSPI market  .KS11  down 0.3%, as of 0120
GMT

($1 = 1,299.8000 won)

 (Reporting by Joyce Lee)
 ((joyce.lee@tr.com))