Seoul: There’s plenty of speculation in the Korean media that one of the nation’s top shipbuilders is scouring Southeast Asia to set up a yard. Indonesia would appear to be in pole position, although Samsung officials are believed to have also visited the Philippines where compatriot Hanjin Heavy Industries & Construction has a giant facility in Subic Bay. Indonesia’s vast offshore potential is tempting Samsung, one of the world’s premier offshore construction firms. With China rapidly climbing the offshore technology ladder, a cheaper labour base outside of Korea would help Samsung stay ahead of its rivals.
Yoo Jae-Hoon, an analyst from Woori Investment & Securities, said: "This would be Samsung's long-term strategy to compete against China." [17/01/13]
