SEOUL, Nov. 14 (Korea Bizwire) — South Korean shipyards appear upbeat over potential opportunities to expand their business in America after U.S. President-elect Donald Trump’s call for more bilateral cooperation in the sector. In his phone conversation with South Korean President Yoon Suk Yeol following his election victory last week, Trump said the U.S. seeks to work [...]
SEOUL, Sept. 6 (Korea Bizwire) – In a concerning trend for South Korea’s once-dominant shipbuilding industry, Chinese competitors are rapidly gaining market share, aided by alleged industrial espionage and lenient court rulings in South Korea. The situation has raised alarms about the potential loss of South Korea’s world-leading position in the sector, particularly in the crucial [...]
SEOUL, Aug. 5 (Korea Bizwire) — The industry ministry said Monday it has launched a shipbuilding training center in Indonesia to provide training programs for Indonesian workers seeking job opportunities in South Korea. The center, located in Serang, 78 kilometers west of Jakarta, will train around 30 to 40 workers for a three-month period, offering [...]
SEOUL, Jul. 2 (Korea Bizwire) — South Korea’s industry ministry said Tuesday it plans to pursue investment projects worth 2 trillion won (US$1.44 billion) over the next 10 years with businesses to leverage smart and clean energy technologies in the shipbuilding industry. The government unveiled the initiative as part of Vision 2040, a strategic plan [...]
WASHINGTON, Apr. 11 (Korea Bizwire) — U.S. Secretary of the Navy Carlos Del Toro has noted South Korea’s capabilities to build high-quality ships, including warships, in a cost-effective way while voicing concerns that America’s shipbuilding capabilities have “atrophied” over the past decades. Toro made the remarks during an event organized by the Navy League in [...]
SEOUL, Apr. 3 (Korea Bizwire) — South Korean shipbuilders ranked first in new global orders in the first three months of 2024 in terms of value, outpacing their Chinese rivals, data showed Wednesday. Local shipyards won US$13.6 billion in new orders over the January-March period, up 41.4 percent on-year, according to the Ministry of Trade, [...]
SEOUL, Jan. 24 (Korea Bizwire) — High value-added ammonia carries have emerged as a new marketplace for South Korean shipbuilders, industry data showed Wednesday, amid a recent surge in global orders in line with a decarbonization trend. HD Korea Shipbuilding & Offshore Engineering Co. and two smaller rivals in South Korea have clinched all 15 [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea fell to second place in new global shipbuilding orders in November to trail behind China again, industry data showed Tuesday. South Korean shipyards clinched orders totaling 570,000 compensated gross tons (CGTs) for 15 ships, accounting for 36 percent of the global total of 1.59 million CGTs last [...]
SEOUL, Nov. 29 (Korea Bizwire) — South Korean shipbuilders are widely expected to lag far behind their Chinese rivals in new global orders to place second worldwide in 2023 amid falling demand, according to industry data Wednesday. Local shipyards won a combined 9.55 million compensated gross tons (CGTs) in new orders in the first 11 [...]
SEOUL, Nov. 7 (Korea Bizwire) — South Korea regained the top spot in new global shipbuilding orders for the first time in three months in October, industry data showed Tuesday. Local shipyards clinched orders totaling 1.54 million compensated gross tons (CGTs) to build 18 ships, accounting for 62 percent of the global total of 2.49 [...]