Hanjin Heavy lays off staff

Hanjin Heavy Industries & Construction made a decision to carry out paid leave of 400 staff from mid-November as it temporarily shuts its Busan yard due to a lack of orders, Seatrade Asia online reports.  The yard has suffered a 10-month strike earlier this year. Hanjin Heavy opened a giant yard in Subic Bay, Philippines four years ago and increasingly ship orders have migrated to the cheaper labour destination in Southeast Asia. Hanjin Heavy’s Busan yard, located in the city centre, is the oldest shipbuilder in Korea.