The Korean government working through its state-run financial institutions along with the private banking sector is partnering to increase liquidity for the shipbuilding sector. It marks the first time in 11 years that the banks, including the regional banks, have stepped into issue financial support and increase liquidity, especially for Korea’s midsized shipbuilders.
During a signing ceremony for the multiparty deal, government officials pointed to the strong financial contribution from the shipbuilding sector to the economy while also acknowledging increasing competition. In the first five months of 2024, shipbuilders…