In a move likely to further infuriate rivals such as Japan and Germany, the South Korean government today unveiled a $1.5bn package to help the country’s struggling small and mid-sized shipyards, many of which have been decimated this decade.
Seoul put in place today plans to get 140 LNG-fuelled vessels ordered across the nation’s smaller yards by 2025.
Japan has recently taken neighbour South Korea to the World Trade Organization over its state aid dished out to its largest shipbuilders, a move that has garnered strong support from German shipyards.
