Hyundai Mipo says may add a block plant in S.Korea

South Korea's Hyundai Mipo Dockyard Co Ltd said on Monday it might invest 190 billion won ($181.1 million) in a new block assembly factory, where ships are part-assembled, south of Seoul to expand its capacity. Hyundai Mipo said in a filing to the Korea Exchange that it had reached preliminary agreement with a local government authority to build the factory in Ulsan where the shipbuilder has a shipyard. Hyundai Mipo and Hyundai Heavy Industries Co Ltd, the world's top shipbuilder, have shipyards in Ulsan, about 300 km southeast of Seoul.
Hyundai Mipo did not give further details saying the agreement needs approval from its board of directors.
Shares in Hyundai Mipo ended down 1.64 percent at 240,000 won, compared to a 1.5 percent fall in the broader market.

Source: Reuters