Korea Federation of SMEs Holds the 5th Shipbuilding Industry Committee Meeting

Shipbuilding Industry Discusses Workforce Supply Challenges and Financial Support Issues

[Asia Economy Reporter Kwak Min-jae] The Korea Federation of Small and Medium Business (KSMB) announced on the 25th that it held the '5th Shipbuilding Industry Committee' at Lotte Hotel Busan on the 24th.

The Shipbuilding Industry Committee was established to proactively prepare policy tasks to respond to the rapidly changing market conditions and to enhance the competitiveness of small and medium shipbuilding companies.

On this day, the committee discussed major industry issues and countermeasures with related organizations including the Busan Regional Employment and Labor Office, Korea Credit Guarantee Fund, Export-Import Bank of Korea, and Korea Trade Insurance Corporation.

The attending committee members agreed on the urgent need to resolve industry issues such as ▲ alleviating the supply and demand difficulties of production technology personnel following the recovery of the shipbuilding industry ▲ preparing special financial support measures for the shipbuilding equipment sector ▲ improving the Public Procurement Service's bidding system for government vessels.

Kim Ki-moon, Chairman of KSMB, stated, “Although shipbuilding industry orders are improving along with the recovery of global demand, small and medium shipbuilding companies continue to face management difficulties due to increased financial costs and excessive labor regulations,” and added, “I hope the Shipbuilding Industry Committee will take the lead in resolving industry difficulties and promoting development, and I ask for the active interest and participation of the committee members.”