[Photo News] Sungdong's closed shipyard sheds light on demise of shipbuilding business

FROM GREAT INDUSTRY TO GHOST TOWN — Two construction cranes stand at a closed shipyard formerly owned by South Korean shipbuilder Sungdong Heavy Industries in Masan, South Gyeongsang Province, Sunday. In light of the prolonged downturn of the local shipbuilding sector, Sungdong’s 700-ton “Goliath Crane” will soon be purchased by a shipbuilding company in Romania, while the shipyard itself was sold off to 20 different small and mid-sized companies in July 2015. (Yonhap)