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Chief Executive Officer Nam Sang-tae told reporters that the shipbuilder would spend 500 billion won ($434.71 million) in facilities and new hires in 2012, in comments that were confirmed by the company's press officer.
"The commercial ship business will be better from 2013," Nam said, according to his press official. Nam believes that 70-80 percent of orders in 2012 would be for offshore vessels such as drillships.
Nam also said Daewoo exceeded this year's orders target of $11 billion, taking in around $14.8 billion.
Copyright Reuters, 2011