Chinese firm wooed for Korean yard investment

Beijing: In a big reverse in how shipbuilding evolution has worked so far there is a strong possibility a Chinese firm will invest to build a shipyard in South Korea. All of Korea’s big four shipyards, Hyundai, STX, Samsung and Daewoo, have shipbuilding facilities in the PRC but now China's Qin Long Group is looking at entering into a tourism business as well as shipbuilding in South Gyeongsang Province, South Korea.
South Gyeongsang governor Kim Doo-Kwan paid a visit to Beijing last week in order to draw investment. Governor Kim met with Qin Long's president Li Xiao Ming and asked him to invest in South Gyeongsang's tourism and shipbuilding industries.
Governor Kim also invited president Li to South Gyeongsang Province and President Li is scheduled to visit Korea in early July to have a look around possible investment sites. Kim said that, "President Li seems to have a strong will to advance into investment in the shipbuilding industry in South Gyeongsang province."  [26/06/12]

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