The steel and shipbuilding industries have joined hands for mutual growth. Although they have struggled over negotiations on the price of shipbuilding steel plates, they now face a situation where they must jointly respond to changes in industrial conditions such as the transition to eco-friendly practices.
The Korea Iron & Steel Association and the Korea Offshore & Shipbuilding Association signed a business agreement for mutual cooperation on the 28th at the Trade Tower in Seoul.
They promised to strengthen the foundation of manufacturing through close cooperation and to strive to enhance global competitiveness.
To resolve difficulties between the two industries and to promote mutual understanding, they agreed to hold a working-level committee meeting once every six months and to promote joint seminars to share information and explore mid- to long-term cooperation plans.
Steel companies supply the main raw material, steel plates, to shipbuilders, and shipbuilders are major customers of steel companies. Therefore, they plan to continue cooperation in areas commonly needed by both industries.
Jang Young-jin, the 1st Vice Minister of the Ministry of Trade, Industry and Energy, stated, "Given the uncertain global economy this year and industrial conditions such as the eco-friendly transition, which are not easy, industries must come together like penguins huddling for warmth in the cold, overcoming difficulties through synergy by putting their heads together across sectors. We hope to discover common issues through mutual cooperation agreements and seminars and respond together."
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