Korean shipbuilding industry Archives

Seoul to Make Stronger Push in Restructuring of Shippers, Shipbuilders

SEOUL, April 26 (Korea Bizwire) – South Korea will make a stronger push in restructuring financially-troubled shipping and shipbuilding companies, but the restructuring drive itself should be spearheaded by firms and their creditors, the country’s top financial regulator said Tuesday. “Last year, the overall value of ship orders clenched by local shipbuilders stood at US$10 [...]

Offshore Facilities Turn Out Loss-making Business for Korean Shipbuilders

SEOUL, July 29 (Korea Bizwire) – South Korea’s major shipbuilders, led by Hyundai Heavy Industries Co., logged worse-than-expected losses in the second quarter, largely due to the delivery of low-priced ships and a delay in the construction of loss-making offshore facilities, data showed Wednesday. The country’s big three shipyards racked up a combined loss of [...]