S Korea to spend 11t won by 2020 to support shipbuilding
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Seoul
SOUTH Korea, home to the world's three biggest shipbuilders, plans to spend about 11 trillion won (S$13.4 billion) by 2020 to help the industry amid a dearth of new orders and prolonged losses.
The government intends to order more than 250 vessels and provide about 6.5 trillion won in financing support to strengthen shipping companies' efficiency through the end of this decade, Finance Minister Yoo Il-ho said on Monday.
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