45-month order drought starting to hurt in South Korea
South Korea's – and thus the world's – largest shipyard has not secured new offshore orders in more than three and a half years, and, in line with the country's two other large shipyards, intense efforts to cut costs are now underway. However, protests and strikes are challenging those measures.
A crisis is affecting South Korea's largest ship yards, which have initiated comprehensive restructuring plans in order to secure their future in period with too few orders. However, these plans have triggered walkouts among the workers, complicating the shipyard's efforts to get back on course, writes Yonhap News Agency.
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