Net profit of Daewoo Shipbuilding & Marine Engineering Co. for 2009 amounted to 578 billion won ($493 million), from last year’s 402 billion won, the DS&ME reported. In 2009 the shipbuilder’s revenue rose by 12 percent, to a record 12.44 trillion won.

Daewoo Shipbuilding is the third top shipbuilding company in the world. The DS&ME builds vessels of various categories, as well as offshore drilling platforms and warships, including submarines and destroyers.