Korean shipyard moves closer to revival after nine-year hiatus

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South Korea's Gunsan Shipyard, dormant since 2017, is nearing a full production revival with a newbuilding contract secured. This development could alleviate capacity constraints amid heavy bookings for South Korean shipbuilders.

One of South Korea’s largest dormant shipbuilding assets is edging towards a return to full production, potentially easing capacity constraints at a time when the country’s major builders remain heavily booked for years ahead. Gunsan Shipyard, which has not delivered a complete vessel since 2017, has secured its first newbuilding commitment before its prospective new …