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Korean shipyards left struggling as deep-sea strategy backfires

Vessel makers may show billions of dollars in losses when they report earnings
Wednesday, July 29, 2015 - 05:50

Seoul

THE deep-ocean strategy is coming back to bite South Korean shipyards.

Hyundai Heavy Industries Co, Daewoo Shipbuilding & Marine Engineering Co and Samsung Heavy Industries Co - South Korea's Big Three shipbuilders - ventured into offshore oil rigs starting around 2010.

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