AsiaShipyards

Samsung yard braces for strike

Workers at South Korean shipyard Samsung Heavy Industries will go on a partial strike on Thursday afternoon demanding the recently announced restructuring plan is shelved.

Workers at the nation’s other two major yards, Daewoo Shipbuilding & Marine Engineering and Hyundai Heavy Industries, have intimidated they will follow suit.

All three yards have announced major restructuring with thousands of employees to be laid off.

South Korean president Park Geun-Hye warned last month the nation’s shipbuilders will have to endure plenty more pain. Addressing parliament, Park said there would need to be “bone-crushing” efforts in order to resurrect Korean shipbuilding.

“If we don’t carry out a bold restructuring by downsizing the overgrown workforce… and cutting costs, the future of not only the shipbuilders but also the whole economy will be in jeopardy,” Park warned.

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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.

Comments

  1. The yards had great time when other yards were shutting down. Now it is their turn …they never realized the consequence of accelerated growth which can not sustain. Also in business, cut throat competition is no good in the long run.

    The yards did establish a lot more advaces during the period which is commendable also

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