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Local Shipbuilders Secure Largest Share of Global Orders since 2018

Written: 2023-01-05 13:29:59Updated: 2023-01-05 14:47:08

Local Shipbuilders Secure Largest Share of Global Orders since 2018

Photo : YONHAP News

The nation's shipbuilding industry secured the largest number of orders in the world last year for the first time since 2018.

According to the Ministry of Trade, Industry and Energy on Thursday, domestic shipbuilders won 37 percent of global orders in 2022, up four percentage points from 2021.

The nation topped the ranking for construction of high-priced and eco-friendly vessels, with such orders accounting for 58 percent of the global total. Local shipbuilders took 70 percent of the orders for liquefied natural gas carriers and 50 percent for eco-friendly vessels.

All five major Korean shipbuilders exceeded their annual targets, with some landing orders for the next three- to four-years.

The ministry plans to inject 130 billion won into the industry this year to support technological development of key equipment and personnel training.

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