Marine Link
Monday, July 16, 2018

Law Maker Attacks Korean Shipbuilders

Maritime Activity Reports, Inc.

September 15, 2015

Image: Hyundai Heavy Industries

Image: Hyundai Heavy Industries

 Lee Jin-bok, a lawmaker of the ruling Saenuri Party in Korea says that the government has given an "incentive for mutual growth" to Korea's major shipbuilders while they are accused of an unfair business practice.

 
The three shipbuilders - Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries - forced their partner companies not correctly to respond to the questionnaire on the 'mutual growth index,' he accused.
 
"They even forced the partner companies to sign an agreement,” Lee said.
 
The shipbuilders passed on their damage to their partner companies by cutting cost, said Lee, who found out the unfair practice through the meeting with small partner companies.
 
In effect, the three firms all received ratings of “excellent" during the evaluation for mutual growth jointly conducted by Korea Commission for Corporate Partnership and Fair Trade Commission during 2013 and 2014.
 
When selected as "excellent companies," they are exempted from the investigation in the subcontract sector, given add points for doing business for technology development and also given special preference for public bidding by the Public Procurement Service.
 
Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News