[Graphic News] Korean shipbuilding industry’s outlook remains grim

The South Korean government is moving to help local shipbuilders suffering from declining new orders. On Monday, the Finance Ministry said that the government would order over 250 public vessels worth more than 11 trillion won ($9.6 billion) in total by 2020. The ministry has also encouraged the industry to restructure their businesses and focus on value-added ship services. The industry as well as the opposition parties, however, criticized the latest measures, calling them an insufficient rehash of existing plans.