The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

S Korean shipbuilders need 'bone-crushing' reform

President Park Geun Hye warns of mass job cuts, economic slump in southern region

Published Mon, Jun 13, 2016 · 09:50 PM
Share this article.

Seoul

SOUTH Korean President Park Geun Hye on Monday urged "bone-crushing" efforts to overhaul the nation's ailing shipbuilders faced with mounting losses caused by slowing global demand and increased competition.

South Korea's mighty shipbuilders - including Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering - have dominated the global market for past decades.

KEYWORDS IN THIS ARTICLE

South Korea

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Transport & Logistics

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here