The Korean shipbuilding industry has outperformed Chinese firms in the amount of ship deliveries in the last five years.
Korea recorded 10.027 compensated gross tonnage (CGT) as of October, beating China’s figure of 9.784 CGT, according to Business Korea.
It is the first time that Korea has surpassed China in ship deliveries since 2009.
From the mid-2000s, China saw the number of shipyards and orders for shipbuilding sharply increase.
However, Korea has recently asserted its dominance over China and the achievement will serve as an opportunity to confirm Korea’s competitiveness in the shipbuilding industry.
Korea’s competitiveness in eco-ship technology is considered to be the top contributor to higher ship deliveries.
