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Marine Industry | South Korea
South Korea, officially the Republic of Korea is bordered by the Japanese sea in the east and the Chinese sea in the west and by the Strait of Korea and the East-Chinese sea in the south. South Korea is home to fifteen ports that vary in size. Ulsan port is the largest in the country, followed by Busan, Masan, Gunsan, Mokpo and Incheon.
The shipbuilding industry is a relatively young industry in South Korea. It started in 1973, when Hyundai Heavy Industries opened the first modern shipyard. Within several decades the industry grew into one of the largest in the world. Korean shipyards specialize in a variety of vessels such as large bulk carriers, multi-purpose vessels, gas carriers, large container ships and large tankers. Today there are three large shipbuilding conglomerates in South Korea: Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering.
Korean shipyards also specialize in building offshore equipment such as drill ships, ultra-deepwater drill ships, semi-submersible rigs, platform supply vessels, platforms and LNG-FPSO vessels.