President Lee Jae-myung emphasized the importance of developing a robust ecosystem for South Korea's shipbuilding industry on May 13. He stated that it is crucial for the industry to thrive and for the benefits of growth to be shared equitably among stakeholders, including both employers and workers within companies.
During his opening remarks at the K-Ship Future Vision meeting held at the Lahan Hotel in Ulsan, President Lee noted, "The shipbuilding industry has many possibilities and potential ahead." He encouraged attendees by saying that many countries are looking forward to collaborating with South Korea in shipbuilding.
"In recent meetings with leaders from other nations, I found that most countries with coastlines are eager for cooperation with our shipbuilding sector," he said, acknowledging the industry's status as a key sector representing South Korea.
He also highlighted the growing international interest in the shipbuilding industry, mentioning that it has been selected as a core item in the U.S.-led MASGA (Massive American Investment in South Korea) initiative. "The shipbuilding industry has become a significant part of investment cooperation between South Korea and the United States," he added.
President Lee pointed out that the shipbuilding industry is highly susceptible to economic fluctuations, leading to persistent employment issues. "The industry experiences cycles of boom and bust, which often results in workforce instability," he explained.
He noted that during downturns, companies struggle to maintain operations, while during upturns, they face labor shortages, causing a layered workforce structure and job insecurity. "This is not anyone's fault; it seems to be a characteristic of the industry," he remarked, stressing the need for government involvement to mitigate these risks.
"Simply leaving it to the market will not resolve these issues. The government must take a keen interest in maintaining employment and developing the shipbuilding ecosystem," he asserted.
Furthermore, he stated, "Today’s international competition is not just about individual products but about competing ecosystems. A strong internal ecosystem will enhance our international competitiveness, while lacking one will make it difficult to endure challenging situations."
President Lee invited participants to share their concerns candidly, promising to consider what the government can do to address issues related to cooperation among small and large shipbuilders, as well as the roles expected from subcontractors and suppliers.
* This article has been translated by AI.
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