Former DSME, Hanjin Shipping Top Brass Put behind Bars

- Dec 11, 2017-

gavel-320x213.jpgThe Seoul Central District Court has sentenced former CEO of Daewoo Shipbuilding and Marine Engineering (DSME) Nam Sang-tae to six years of prison as he was found guilty of accounting fraud, embezzlement, breach of duty and bribery.

Nam Sang-tae served as the company’s CEO between 2006 and 2012, and his wrongdoings are beleived to have contributed to DSME’s financial troubles during the industry slowdown.

The court also fined him with USD 806,000 million, Yonhap news agency reported on Thursday, October 7.

In a separate ruling from today, the Seoul court sentenced a former chairwoman of the defunct Hanjin Shipping, Choi Eun-young, to 18 months in prison, for insider trading.

Eun-young was found guilty of selling off her family-stake in the shipping company days before it declared a court-led debt restructuring plan. She was also fined with USD 1.09 million, Yonhap informed.

By selling the stake, her family avoided losses of up to KRW 1 billion.

3.jpgOUCO Marine/Offshore 2.5T foldable crane Knuckle Boom Crane Marine Crane Pedestal crane

OUCO Marine/Offshore Foldable and telescopic boom compound marine cranes would be the type of effortless cranes with foldable and telescopic booms compound, which make full use of the cranes’ strengths and flexibility when loading and unloading goods. OUCO Marine group can design the foldable cranes based on API-2C regulations and rules.