Korean shipyards accused of failing to pay subcontractors adequately

Korean shipyards accused of failing to pay subcontractors adequately

South Korea’s top three shipbuilders stand accused of failing to pay their subcontractors properly.

The Fair Trade Commission in Seoul has launched probes into Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) over their alleged failures to pay subcontractors between 2016 and 2018.

A series of fines are likely to be handed out to the trio next month, local media reports.

The last time that something similar to this current investigation happened resulted in a $22.4m fine for DSME six years ago.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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