Shipbuilding Industry Exports to Exceed US$22 Billion

Exports of Korean ships are expected to exceed US$22 billion this year on the back of more sales of high-value-added vessels including liquefied natural gas carriers. The Korean shipbuilders association says domestic shipyards are likely to export $10.7 billion worth of vessels in the second half in addition to the $11 billion in the first half of the year. The association believes the industry will see a trade surplus of $19 billion this year, accounting for 70 percent of the country’s aggregate trade surplus.