“Amidst Recession, World’s Top Shipbuilding Industry Flourishes with 5-Year Work Contract”

3.7 years of dry goods, including 5 years of LNG carriers, have already been secured
Hyundai Samho Heavy, the only one in the industry to turn a profit… Recruitment crisis intensifies


Concerns about an economic recession are emerging due to the continuing trade deficit, but the shipbuilding industry is booming.

Depending on the vessel, up to 5 years worth of work has been secured.

As ship orders increase, it is difficult to find workers.

Reporter Kim Beom-hwan reports.


The shipyard of Hyundai Samho Heavy Industries, the largest business site in the southwestern region of Jeollanam-do.

Hands are busy building 6 large ships at both onshore and offshore docks.

You can also see a super-large tanker with a loading weight of 300,000 tons.

[최봉열 직장 / 현대삼호중공업 자재지원부 : 무엇보다 우수한 품질의 안전한 선박을 건조해 고객님들의 신뢰를 얻는 것이 중요하다고 생각합니다. 쉽지 않은 현장 여건에도 대한민국 수출 첨병으로서 ‘K-조선’을 이끌고 있다는 자부심과 긍지로 열심히 일하고 있습니다.]

Hyundai Samho Heavy Industries has already secured work for about 3.7 years.

As demand has increased due to the war in Ukraine, orders for LNG carriers have been backlogged for over five years.

Here at Hyundai Samho Heavy Industries, a total of 12,000 people work, including 4,000 direct employees, 6,000 employees from subcontractors, and foreign workers.

At one time, due to the slump in the shipbuilding industry, many professional skilled workers left the site and are having a hard time finding workers these days.

As the amount of ship orders increased, the management of Hyundai Samho Heavy Industries finally turned to a surplus last year.

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[이승환 / 현대삼호중공업 상무 : 친환경 선박이라든지 환경 규제에 대한 대응을 적극적으로 하면서 저희가 생산하는 선박의 성능 차별화라든지 생산 능력에 대한 차별화는 상당 부분 구축이 됐습니다.]

Among the twin wagons leading Korea, a manufacturing powerhouse, the semiconductor industry is slowing down, but the shipbuilding industry is reclaiming the world’s No. 1 position and soaring again.

This is YTN Kim Bum-hwan.

YTN Kim Bum-hwan ([email protected])

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