On Monday, South Korea’s Finance Minister Choo Kyung-ho declared that the government will use all available resources to help the shipbuilding sector become a new economic driver. Choo expressed his optimism during a visit to the Hanwha Ocean Co. shipyard in Geoje.
South Korea’s exports of ships totaled $9.2 billion in the first half of 2023, an 11.9% increase from the previous year. The number of outstanding orders reached 38.8 million CGTs, the highest in the past 12 years.
The visit was intended to share the government’s plans to adjust to the changing environment as the industry transitions to more eco-friendly and digitalized technologies. The Finance Ministry will formulate more specific measures to support the shipbuilding industry based on the results of the visit.
colin@yna.co.kr
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