Hyundai Heavy Industries (HHI) could be about to win a vital deal for its offshore business.
Korea Economic Daily reported that it was likely to clinch a floating production unit order worth $500m from US oil company LLOG.
This would be its first offshore plant contract since 2014.
It stock was up 5% in Seoul on the news.
HHI chief executive Kang Hwan-goo has previously warned that the company may not keep the offshore business unless employees make “sacrifices and concessions”.
Kang has said workforce costs at its offshore arm are KRW 192bn ($171m) per year and could rise to KRW 600bn if it fails to win any new deals.
The group halted work at its offshore facilities in August after orders dried up and the company and union are now at odds over how to address the large number of idle workers at the division.
