South Korea's shipbuilding sector has axed 35,000 jobs

The South Korean shipbuilding sector and the suppliers working with the yards have laid off more than 21 percent of the employees in the first six months of this year, according to new numbers.

Photo: Maersk Line

South Korea's shipbuilders and the sector's suppliers have reduced their workforce considerably during the first half of the year, show new industry figures, according to news agency Yonhap.

Data from Korea Offshore & Shipbuilding Association show that the sector and related companies have laid off a total 35,400 employees in the period from January to June, corresponding to 21.3 percent compared to late last year.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Chinese coal shortage endures and boosts earnings in dry bulk market

Coal is in high demand in China, and by all appearances, the appetite for coal will not abate in the coming months, benefiting dry bulk operators. Norden and Lauritzen note how the Chinese coal policy – in addition to its import ban from Australia – serves to strengthen an already strong market. Clarified.

Further reading

Related articles

Latest news

See all jobs