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Build All of the Ships

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2008년9월27일 해군 세종대왕함기동 (1) (7193823614).jpg
ROKS Sejong the Great. By 대한민국 국군 Republic of Korea Armed Forces – 2008년9월27일 해군 세종대왕함기동 (1), CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=36992427

My latest at the Diplomat takes a look at the South Korean shipbuilding industry:

The Korean shipbuilding industry has plunged into a deep crisis. The three biggest shipbuilding firms—Daewoo, Hyundai Heavy, and Samsung Heavy—posted record combined losses in 2015, and 2016 looks no better. Combined with a major accounting scandal and ongoing concerns about the viability of the market, South Korea could face a major shift in the viability of one of its most important industries.

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