EU, S. Korea Will Try Last Minute Negotiations

Monday, June 25, 2001
European Union (EU) and South Korean officials meet next week to try to settle a row over alleged subsidies to Korean shipyards and avert an EU threat to take the dispute to the World Trade Organization. Negotiators meet in Brussels on Monday and Tuesday. It could be the last chance for an amicable solution of the row over the EU's allegations that Seoul pays its shipbuilders illegal subsidies, subsidies which it says threaten the existence of European competitors. The EU's executive Commission said in May it would start a WTO dispute against South Korea -- the world's biggest shipbuilder -- over the issue unless a deal could be reached by June 30. The Commission has also proposed allowing temporary government aid for European shipyards hit by South Korean competition for as long as the WTO case lasts, although some EU member states oppose this idea. At a last round of talks in Seoul in May, EU trade officials called on South Korean shipyards to raise their ship prices by an average of 15 percent to relieve cost burdens on European yards, Seoul's Commerce Ministry said. An EU official confirmed the bloc was looking for a 15 percent rise in South Korean ship prices but said Seoul was only offering five percent. The EU also wants the rise applied to more types of ships than is being offered by South Korea, according to reports. The Commission said in May its own five-month probe of South Korean shipbuilding had established that substantial subsidies had been granted to South Korean shipyards which it alleged contravened the WTO's 1994 Subsidies Agreement. South Korean shipbuilders deny the EU charges. - (Reuters)

Navy

Scorpene Submarine Data Leak: Setback to Indian Navy

India has began multiple investigations to determine the extent of damage caused by the reported massive leak of secret data detailing the combat and stealth capabilities

NOAA Engineers a Better Current Sensor for Mariners

Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents.

Iran Vessels Make 'High Speed Intercept' of US Ship

Four of Iran's Islamic Revolutionary Guard Corps (IRGC) vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said, amid

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0718 sec (14 req/sec)