The Korean shipbuilding industry grew 19-fold over 15 years, from W1.48 trillion (US$1=W941) in 1990 to W28.26 trillion in 2005, the Korea Shipbuilders’ Association said Thursday.
A KSA spokesman said that it is certain that Korean shipbuilders saw a jump in their combined sales last year, although the exact figure has not yet been calculated.
The association says productivity has increased 2.5 times over the 15 years. For the three major shipbuilders -- Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering -- the total man-hours needed to build one compensated gross ton (CGT) of a ship fell from 23.3 in 1990 to 9.2 in 2005. CGT is a measure of shipbuilding output.
Experts attribute the growth in productivity to massive investment and efficient manufacturing techniques. The shipbuilding industry spent enormous sums on facilities such as construction docks in the 1990s.
A KSA spokesman said that it is certain that Korean shipbuilders saw a jump in their combined sales last year, although the exact figure has not yet been calculated.
The association says productivity has increased 2.5 times over the 15 years. For the three major shipbuilders -- Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering -- the total man-hours needed to build one compensated gross ton (CGT) of a ship fell from 23.3 in 1990 to 9.2 in 2005. CGT is a measure of shipbuilding output.
Experts attribute the growth in productivity to massive investment and efficient manufacturing techniques. The shipbuilding industry spent enormous sums on facilities such as construction docks in the 1990s.