Struggling Hyundai Heavy lays off quite a few execs
Published: 01 Jul. 2018, 20:12
The move came a month before the shipbuilder is due to suspend work at its offshore facilities shipyard. The suspension scheduled for August is the first in 35 years.
Hyundai Heavy has lost out to Chinese and Singaporean rivals in offshore projects in recent years due to its higher costs. The labor costs of Chinese and Singaporean shipbuilders are roughly a third of Hyundai Heavy’s. Yonhap
with the Korea JoongAng Daily
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