SEOUL, Mar. 25 (Korea Bizwire) — South Korea’s major shipbuilders are planning to recruit new workers despite the ongoing belt-tightening mode on hopes that the industry is on track towards recovery, sources said Monday. Although they did not finalize the details on the new hiring, the major shipyards are considering recruiting a small number of [...]
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, Dec. 24 (Korea Bizwire) — South Korean shipbuilders showed better-than-expected performances this year on a rise in new orders, especially those for LNG ships, industry sources said Monday. The country’s shipbuilding sector, once a cornerstone of the country’s economic growth and job creation, has been reeling from mounting losses in the past few years, [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korean shipbuilders have bagged over 80 percent of new orders placed around the globe this year to build liquefied natural gas (LNG) carriers, industry data showed Tuesday. According to the data, Korean shipyards clinched new orders to build 56 LNG carriers in total, which is 86 percent of [...]
SEOUL, Nov. 22 (Korea Bizwire) — South Korea announced Thursday a package of measures to help ease the hardships of small and midsized shipbuilders that are struggling from a lack of new orders. The shipbuilding industry, once a cornerstone of the South Korea’s economic growth and job creation, has been reeling from mounting losses caused [...]
SEOUL, Nov. 15 (Korea Bizwire) — Retail sales and industrial output in restructuring-hit regions remained in a slump in the third quarter, government data showed Thursday. According to the data compiled by Statistics Korea, retail sales in South Gyeongsang Province, North Jeolla Province and Ulsan declined 2.3 percent, 1.2 percent and 1.2 percent, respectively, in [...]
SEOUL, Nov. 13 (Korea Bizwire) — South Korea’s embattled shipbuilding giants may conduct a wave of year-end layoffs in line with self-rescue measures agreed upon with creditors, industry sources said Tuesday. Stung by snowballing losses from tumbling orders and heavy debt, Daewoo Shipbuilding and Marine Engineering Co. (DSME), Samsung Heavy Industries Co. and Hyundai Heavy [...]
SEOUL, Sept. 7 (Korea Bizwire) — The causes of large-scale industrial accidents at South Korean shipyards lie in the multi-layer subcontract practice prevalent in the industry, says an investigation committee launched by Ministry of Employment and Labor (MOEL). The committee was formed in response to major accidents in the shipbuilding industry in 2017, including a [...]
SEOUL, Apr. 6 (Korea Bizwire) — South Korean shipbuilders beat their global rivals in ship orders in the first quarter, according to data by Clarkson Research Services. In the January-March period, South Korean shipbuilders clinched orders equal to 2.63 million compensated gross tons (CGTs) to build 52 vessels. This accounted for 42.2 percent of ship [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s leading shipyards had the top three order backlogs among global shipbuilders at the end of 2017 due mainly to work received before the worldwide drop in demand, industry data showed Sunday. According to Clarkson Research’s latest World Shipyard Monitor, Daewoo Shipbuilding and Marine Engineering Co. (DSME) Okpo, [...]