South Korea Pursues Shipbuilding Ties with India
South Korea’s major shipbuilders are seeking cooperation with Indian counterparts as India invests heavily to boost its shipbuilding industry. This collaboration aims to leverage both countries' strengths, with Korea bringing advanced technology and India providing a large workforce.
India has launched a massive investment to grow its shipbuilding industry, inviting Korean shipbuilders to collaborate. The Indian government has approved a significant investment package to foster this sector, including financial support and the creation of shipbuilding clusters. Major Korean shipyards like HD Hyundai and Samsung Heavy Industries have signed memorandums of understanding with Indian shipyards to share expertise and explore new markets. This partnership is strategic for both countries, as Korea seeks to address labor shortages and expand its global presence, while India aims to rapidly develop its shipbuilding capabilities with advanced technology from Korea.
