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Korea to spend USD 9.6 bln by 2020 to support shipbuilding

South Korea plans to spend upwards of USD 9.6 billion ahead of 2020 to help the country's shipbuilding sector through a period with a shortage of new orders and protracted deficits.
Photo: Lee Jin-man/AP/POLFOTO/arkiv
Photo: Lee Jin-man/AP/POLFOTO/arkiv
BY JIYEUN LEE, BLOOMBERG

South Korea, home to the world’s three biggest shipbuilders, plans to spend about 11 trillion won (USD 9.6 billion) by 2020 to help the industry amid a dearth of new orders and prolonged losses.

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