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South Korea's once mighty shipbuilding industry in danger of collapse

Orders drying up for Hyundai, Daewoo and Samsung, which suffered a total loss of 8.5 trillion won last year

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A ship under construction at Hyundai Heavy's shipyard in Ulsan. Hyundai shed more than 1,000 jobs at its shipyard in 2015 and is reportedly planning to lay off around 3,000 workers this year.

Seoul

AFTER more than a decade of global dominance, South Korea's shipbuilders face an unprecedented crisis that threatens the very survival of one of the flagship industries of Asia's fourth largest economy.

South Korea's "Big Three" shipbuilders were once considered the holy