The government will order three warships worth 3.2 trillion won ($2.7 billion) next month to help shipbuilders survive plunging global demand.
It also vowed to prepare detailed action plans to strengthen the competitiveness of the shipbuilding, shipping, steel and petrochemical industries.
“Corporate restructuring is a difficult process that takes a long time. We can reach desired outcomes only when we continue efforts based on firm principles,” Strategy and Finance Minister Yoo Il-ho said at a ministers’ meeting on industrial restructuring.
The announcement comes amid concern that the political scandal involving President Park Geun-hye and her confidant Choi Soon-sil will weaken momentum for ongoing corporate restructuring as the econom…
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