Korea's Shipbuilding Industry Update

According to English.chosun.com, Korea's southern island Geoje has a 400-hectare plot where 26,000 shipbuilders are hard at work. The shipyard owned by Daewoo Shipbuilding and Marine Engineering places among the top five along with Hyundai Heavy Industries and Samsung Heavy Industries. Korea's shipbuilding industry, keeps on growing. This year's ship exports are expected to exceed US$30 billion, up 13 percent from last year. Of the world's total back orders for ships, as measured in compensated gross tons, Korea holds 36 percent. That's enough projects to keep Korea's shipbuilding industry afloat for four years without taking another order.