Korea Shipbuilding Orders Back to Pre-Financial Crisis Level
The nation's top three shipbuilders have seen their combined orders rise again to the US$50-billion mark, six years after they first soared past this level in 2007 when the industry was flourishing, reports ‘The Chosunilbo’.
Total orders placed by Hyundai Heavy Industries, Samsung Heavy Industries (010140.KS), and Daewoo Shipbuilding and Marine Engineering stood at $52 billion this year. The figure peaked at $68.5 billion in 2007, but fell to $49.8 billion in 2008 and $11 billion in 2009 due to the global financial crisis.
Source: The Chosunilbo