Foreword 3

Acknowledgements 4

Executive summary 7

1 Global perspectives: Overview of the world market 9

1.1. Shipbuilding 10

1.2. Other markets 23

1.3. Market trends 28

References 43

2 Structure and characteristics: Feature of Korean maritime industry 45

2.1. Structure of the Industry 46

2.2. Components of the Industry 50

References 62

3 Competitiveness 63

3.1. Competitiveness of Korea shipbuilding industry 64

Annex A. Recent measures for the shipbuilding sector 67