DSME offices raided in South Korea

Daewoo Shipbuilding and Marine Engineering has been raided by South Korean prosecutors due to alleged accounting irregularities the BBC reports.

Officials entered DSME headquarters in Seoul and its shipyard in Geoje.

They seized accounting books, documents and hard drives to investigate whether the company manipulated its 2013 and 2014 financial statements.

DSME is one of three South Korean shipyards that have been tasked with submitting self-rescue plans as the nations industry continues to struggle.