Among the nation’s top three shipbuilders, Hyundai Heavy Industries(HHI) will be the first to launch active efforts for restructuring.
 
The company's move comes after financial authorities and its main creditor bank tentatively approved the firm’s three-and-a-half trillion won self-rescue plan.
 
Hyundai Heavy Industries is aiming to reduce its current loans of eight-and-a-half trillion won to the six trillion won range and lower its debt rate to below 100 percent from the current 134 percent by 2018.
 
The plan also seeks to lower HHI's debt rate through the disposal of assets, including investment securities and real estate sales as well as through personnel restructuring.
 
The firm presented the self-rescue plan to its creditor bank, KEB Hana Bank, earlier on May 12th and recently received the bank’s tentative approval.