• Short Summary

    Almost overnight, South Korea has become the eleventh biggest shipbuilder in the world, and could move up the rank to seventh place.

  • Description

    Almost overnight, South Korea has become the eleventh biggest shipbuilder in the world, and could move up the rank to seventh place. The success is largely owed to the Hyundai Construction Company, which diversified into shipbuilding just over a year ago, despite predictions that the venture would be a disaster.

    Starting without technology and a skilled labour force at its new Ulsan yards, Hyundai delivered its first supertanker within thirteen months, and began work on three more. Japan -- which refused financial aid at the outset -- has ordered two supertankers from Hyundai, which is now expanding to build one-million-ton tankers.

    Government backing and the heroic efforts of the workers account for Hyundai's success. While the newly-christened 230,000 ton Pan Asia Courage was under construction, the labour force worked eight months, including sundays and holidays, for about half the wage earned by Japanese shipbuilders.

  • Tags

  • Data

    Film ID:
    VLVA5RY4LVJMB0R0N9C5PSLZKF1L
    Media URN:
    VLVA5RY4LVJMB0R0N9C5PSLZKF1L
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    17/01/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:42:00
    Time in/Out:
    /
    Canister:
    N/A

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