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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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 trinity of Korea Inc - controlling nearly 70 per cent of the global market after seeing off their European and Japanese rivals in the 1980s and 1990s.
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