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Korea's top yards have lost thousands of employees this year

South Korea's three biggest shipbuilders have seen a combined 3,000 employees leave so far this year, and the number is even bigger when counting Hyundai Heavy's voluntary retirement program.
Photo: Thorbjørn Hansen
Photo: Thorbjørn Hansen
by DANIEL LOGAN

The three major shipbuilding groups Daewoo Shipbuilding & Marine Engineering, Hyundai Heavy Industries and Samsung Heavy Industries are in the midst of large-scale and comprehensive cost reduction initiatives, and these efforts are costing jobs. Thousands of jobs.

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