HWANG & COMPANY, LTD.
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RE : A Tale of the Three Shipbuilding Nations - Presenting a ‘Survival’ Scenario.
We are easily saying, "Korea has lost the competitiveness in bulkers and tankers. So, it is natural for owners to build bulkers and simple tankers in Japan and China". It means the practical downfall of Korea’s shipbuilding industry.
On the other hand, someone easily bluffs, "Korea remains the best shipbuilding nation on this planet. Korea is located too far and too high for Chinese and Japanese to reach." It is absolutely irresponsible.
China is treading closely on Korea’s tail and Japan is making strenuous efforts to recuperate its past glory. Korea’s shipbuilding is all the more being bombarded by falling oil prices, in addition to the market circumstances such as the problem of over-supply and declining ships prices, whilst Chinese and Japanese shipbuilders are growing their competitiveness behind the shield of massive financial supports and the weak local currency extended by the respective government.
Korean shipbuilders are placed in a ‘disarmed and beleaguered’ situation as if it were like Europe whose shipbuilding had crumbled defenselessly in 1960s. For Korea, its shipbuilding is too important and valuable for the nation just to see it fade away into history. Is there any magic touch to the resurrection of Korea’s shipbuilding? We have to have some sleepless nights to find it out.
I have arrived at a realistically workable way-out, as attached here. Please let me hear you valuable comment on this.
The New Year 2015 has dawned brightly. In an anticipation of global shipbuilding industry to stand on its own feet, I wish all of you a happy and prosperous New Year.
Best regards,
Sung Hyuk Hwang.
