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The intense rivalry between HD Korea Shipbuilding & Offshore Engineering (HDKSOE) and Hanwha Ocean has now spilled over into ship engine manufacturing capabilities, as evidenced by the HD Hyundai Group affiliate's recent acquisition of STX Heavy Industries, only months after the Hanwha affiliate acquired HSD Engine, according to market watchers, Tuesday.
Intensifying competition between Hanwha and HD Hyundai in the shipbuilding industry is feared to help their Japanese rivals win construction orders for the Royal Canadian Navy's new submarines, according to industry experts, Wednesday.
HD Hyundai CEO Chung Ki-sun visited Hyundai Vietnam Shipbuilding, a regional affiliate of the shipbuilder, according to the firm, Thursday.
The Korean Confederation of Trade Unions (KCTU) has accelerated its efforts to attract migrant workers at local shipyards, a pressing issue for Korean shipbuilders and their subcontractors, which have suffered from labor shortages as global demand for vessels picks up, according to industry officials, Sunday.
Local shipbuilders and key parts manufacturers called for measures to revise visa programs to make it easier to hire more foreign workers with hands-on experience, according to the industry ministry, Thursday. The collective demand is in line with Korea's lead in the industry amid a rapid recovery of global demand, underpinned by more buyers opting for high-value, green vessels for sustainable growth.