Yoon at Gunsan Shipyard: "A Major Boost to the Stagnant Local Economy"

Talent Acquisition System and Eco-Friendly Ship Competitiveness Established
Presidential Office "Expecting Regional Economic Vitality"

[Asia Economy Reporter Ki-min Lee] President Yoon Seok-yeol visited Hyundai Heavy Industries Gunsan Shipyard on the 10th and announced plans to secure manpower and future competitiveness in the shipbuilding industry, including eco-friendly ships.

The presidential office reported that President Yoon attended the 'Hyundai Heavy Industries Gunsan Shipyard Ship Block First Departure Ceremony' held at the Gunsan Shipyard that afternoon.

This is President Yoon's first visit to the Gunsan Shipyard in one year since February last year when he was a presidential candidate.

Hyundai Heavy Industries Gunsan Shipyard, completed in March 2010, had an average annual production scale of 1 trillion won and built up to 16 ships per year, but suspended operations in July 2017 due to the global ship market's order drought in 2016.

The event commemorated the transportation of the first ship block produced since the shipyard resumed operations in October last year after five years of suspension to Ulsan Port.

[Image source=Yonhap News]

President Yoon mentioned that last year, Korea's shipbuilding industry secured 37% of the global order volume, achieving the highest market share since 2018, and also ranked first in orders for high value-added and eco-friendly ships.

He promised that the government would improve systems to secure domestic and international manpower and actively promote support for eco-friendly ship technology development worth 140 billion won this year to ensure sustainable growth of the shipbuilding industry.

Additionally, he pledged active support with relevant ministries for long-standing projects underway in Jeonbuk, and government backing for the green hydrogen production cluster, global food hub construction project, and hyperloop testbed construction project.

The presidential office explained, "With the Gunsan Shipyard officially resuming production, it is expected to bring significant vitality to the Gunsan regional economy, which has been stagnant due to the closure of the Korea GM Gunsan plant."