Topic
The industry that designs and builds commercial and naval vessels and offshore structures, with the largest yards concentrated in South Korea, China and Japan.
KIET found Korea lost competitiveness in 46 of 90 car product lines in CPTPP markets, lines that make up 56.3% of its auto exports to members. The institute stops short of naming Korea's exclusion from the pact as the cause.
Reality
HD Hyundai and Siemens opened a Busan center with 50 specialists to integrate ship design, production and maintenance data into 3D models. The 2030 target is a 30% cut in build time, and neither company disclosed what it is spending to get there.
Perspective Coverage
3 publishersReality
Samsung Heavy Industries won a $494.3 million order for two LNG carriers due by May 2029, taking its 2026 orders to $12.4 billion, or 89% of target. LNG has carried commercial orders to 140% of goal while offshore sits near half its implied share.
Reality
Hanwha Ocean booked 2.89 trillion won of ship orders in September with more than three years of work already in hand. That backlog makes its claim to be choosing contracts for profit believable, until margins on the new ships say otherwise.
Reality
The Houston startup says energy and construction come next after shipbuilding and steel, though its Korean work so far amounts to two proof-of-concept projects and a $2 million investment from POSCO DX.
Reality
Strip out seniority step increases and the Ulsan shipbuilder is offering 63,000 won against a 149,600 won demand, with 33 hours of walkouts booked through the 18th and five working days left before Chuseok.
Reality