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Japan criticizes South Korea's state subsidies to shipping

The Shipbuilders' Association of Japan is concerned about South Korea's comprehensive state subsidies to the shipbuilding sector.

Mitsubishi Heavy Industries
Mitsubishi Heavy Industries Photo: Mitsubishi Heavy Industries

Japanese shipbuilders fear that South Korean shipyards will achieve an unfair edge in the competition when they receive the planned state subsidies, says the Shipbuilders' Association of Japan (SAJ) to its peers in South Korea's Korea Offshore and Shipbuilding Association (KOSHIPA) in an open letter, reports Fairplay.

The letter comes after the Japanese Ministry of Land, Infrastructure, Transport and Tourism wrote to its South Korean counterpart about the same issue.

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