Asia Sentinel

Asia Sentinel

South Korea Shipbuilding Industry Faces Crisis

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Asia Sentinel
Jun 29, 2016
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South Korea’s massive shipbuilding industry, the world’s leader, is facing a crisis, with the country’s three largest shipbuilding firms reporting combined losses of W6.4 trillion (US$5.5 billion) in 2015 alone in offshore plants as the shipping market has deteriorated and world oil prices have plunged, resulting in a fall in new contracts.

The industry …

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