KH Investment Group, a South Korean private equity firm, completed the acquisition of a 95% stake in Daehan Shipbuilding, a mid-sized Korean shipbuilder, from Korea Development Bank, a wholly state-owned policy development bank in South Korea, for $148m. Daehan, which was an affiliate of Daejoo Group, entered a debt workout program during its restructuring in 2009. Korea Development Bank became its lead investor in 2014 when the shipyard emerged from court management. KH Investment was named the preferred bidder in January and signed the contract for the buyout in May.