Some creditors of STX Offshore & Shipbuilding Co. are opposing financial aid for the troubled local shipyard, citing a negative outlook for the shipbuilding sector, industry sources said Wednesday,

Last week, creditors of STX Offshore, led by the state-run Korea Development Bank, decided to provide 450 billion won ($384 million) in financial aid to the shipyard in return for thorough restructuring.

But Woori Bank and KEB Hana Bank notified other creditors that they would not join the plan, citing the shipbuilding industry's worsening business conditions.

STX Offshore, however, is expected to receive the financial assistance as planned even without the two lenders' help, as their stake in the shipyard stands at some 10 percent.

Local lenders' exposure to STX Offshore & Shipbuilding stood at 4.29 trillion won at the end of September, with KDB alone extending the largest amount of loans, totaling 1.89 trillion won.

STX Shipbuilding has been under the control of its creditors since 2013, hit by a protracted slump in the shipbuilding sector.

The creditors have provided over 4 trillion won to the shipyard, but it is still reeling from losses. Last year, the shipyard suffered operating losses of 314 billion won.

In return for additional financial aid, the business portfolio of STX Offshore will be reorganized to focus on tanker ships and small-sized LNG carriers, according to the sources.

STX Offshore will also slim down its workforce by 930 by the end of next year, and the wages of all of its employees will be cut by 10 percent, they said. (Yonhap)