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South Korean shipbuilders brace for fight after China mergers

KOREA's shipbuilders are bracing for a new era of fiercer competition from China after the two biggest Beijing-backed shipbuilding groups announced plans to merge, reported London's Financial Times

South Korean shipbuilders brace for fight after China mergers

KOREA's shipbuilders are bracing for a new era of fiercer competition from China after the two biggest Beijing-backed shipbuilding groups announced plans to merge, reported London's Financial Times

08 August 2019 - 19:00

KOREA's shipbuilders are bracing for a new era of fiercer competition from China after the two biggest Beijing-backed shipbuilding groups announced plans to merge, reported London's Financial Times.

The consolidation of China State Shipbuilding Corp and China Shipbuilding Industry Corp, agreed last month, will create a behemoth to rival Hyundai Heavy Industries, the world's biggest shipbuilder by orders.



Hyundai Heavy Industries CEO Ka Sam-hyun said that the new Chinese group would be a more competitive rival, with 'synergies' that will drive better technological development and lower costs.



'We must be better than the Chinese yards in [engineering] techniques and quality. We must try to raise and improve our quality, our technology and better workmanship,' he said.


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