South Korean Shipping Slump

Thursday, July 02, 2009

According to a report on UPI, South Korean ship builders have been hit hard by the global economic slowdown as new orders plunged in the first half of 2009. Yonhap reports that South Korea’s three major shipyards received combined orders of only $1.23 billion in the first six months of this year, compared with $34.1 billion in the same period of last year.

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