Shipbuilders to Enjoy Boom for Next 10 Years

South Korean shipbuilders will maintain their lead in the global market for the next decade, controlling over 40 percent of new orders around the world, a lobby group for Korean shipbuilders predicted Tuesday.

The Korea Shipbuilders’ Association (KSA) said in a report that the outlook for growth for Korean shipbuilders will remain bright for at least 10 years due to growing global demand for new vessels. In particular, Korean shipbuilders will see a boom for large-sized container ships and liquefied natural gas (LNG) carriers, which are more profitable than other types of ships, the association said.

KoreaTimes