Cooperative firms of major shipbuilders launch alliance

Cooperative firms of major shipbuilders launch alliance


The cooperative firms of Korea’s five biggest
shipbuilders have launched an alliance to better cope with the corporate restructuring
taking place within the ailing industry. Hundreds of firms that supply the shipbuilders
are suffering financial difficulties from the unprecedented slump in the sector.
They are expected to request urgent action from the shipbuilders and the government on
measures such as fair trading, minimum wages, labor quality and the reintroduction of a
special admission system. The president of the alliance vowed on Saturday
to raise productivity and cost competitiveness by sharing each others’ strengths.