SEOUL, Jun. 25 (Korea Bizwire) — South Korea’s major shipbuilders are pinning high hopes on massive liquefied natural gas (LNG) carrier orders to be placed in the second half of this year, industry insiders said Tuesday, as they aim to sweep global orders to cement their status in the sector. As of last week, South [...]
SEOUL, Jun. 7 (Korea Bizwire) — South Korean shipbuilders may not meet their annual order targets in 2019, industry observers said Friday, as global shipbuilding orders are falling in the face of the escalating U.S.-China trade dispute. South Korea’s three major shipbuilders — Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering [...]
SEOUL, Apr. 24 (Korea Bizwire) — South Korea’s industry ministry said Wednesday it would spend 70 billion won (US$61 million) to support local shipbuilders’ efforts to recover from an industrywide slump. The Ministry of Trade, Industry and Energy said the newly earmarked spending will center on helping local shipyards tap deeper into the market for [...]
SEJONG, Feb. 26 (Korea Bizwire) — The jobless rate in the southeastern city of Geoje hit a new record of 7.1 percent in the second half of 2018, the highest level in South Korea, government data showed Tuesday. The figure marks the highest jobless rate for Geoje since the country started compiling jobs data for [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korean shipbuilders, which emerged as the world’s No. 1 in terms of new orders in 2018 on increased demand for LNG ships, are anticipating solid demand for vessels this year, industry sources said Wednesday. Local shipyards, led by Hyundai Heavy Industries Co., bagged orders to build a total [...]
SEOUL, Jan. 1 (Korea Bizwire) — South Korean shipbuilders are expected to continue to benefit from a growing number of liquefied natural gas (LNG) ship orders this year, people in the industry said Tuesday. In 2019, the world’s overall LNG ship orders are likely to reach 69, rising from 65 in 2018 and 17 in [...]
SEOUL, Dec. 9 (Korea Bizwire) – South Korea’s major shipyards have shown decent performances this year on the back of a surge in orders to build LNG carriers, industry data showed Sunday. For the year up to Thursday, 52 orders for LNG carriers were received by local entities, with Hyundai Heavy Industries Co. bagging the [...]
SEOUL, Sept. 2 (Korea Bizwire) — South Korea’s major shipbuilders’ troubles caused by drop off in work are being exacerbated by an ongoing labor-management standoff that may further complicate efforts by shipyards to get back on track, industry watchers said Sunday. Hyundai Heavy Industries Co. (HHI), Samsung Heavy Industries Co. and Daewoo Shipbuilding and Marine [...]
SEJONG, May 29 (Korea Bizwire) — South Korea has designated Ulsan, Geoje, Mokpo and several other regions, home to the country’s shipbuilders and related industries, as an emergency response zone to provide job support and tax incentives as these areas are reeling from high unemployment, the commerce ministry said Tuesday. The designation came as local [...]
SEOUL, March 11 (Korea Bizwire) — The number of employees at local shipbuilders plunged 221. percent in February from a year earlier due to an industry-wide crisis, data showed Sunday. According to data compiled by the Ministry of Employment and Labor, in February the number of employees at local shipbuilders was 37,800 lower than the same month a year earlier, marking the 11th [...]