ULSAN < invest Korea

According to Yonhap News,

The export seminar for Asia's major shipyards, co-organized by Busan City, Ulsan City and South Gyeongsang Province, led to $71 million worth-consulting and $6 million worth-export contracts.

The seminar, held in Changwon Convention Center, brought together 85 equipment manufacturers for ships from the three organizing regions and foreign buyers from four countries including Japan, India, Singapore and Philippine.

Last year's seminar saw $25 million-export consulting and $2 million-export contracts with 33 companies from Southeast Asia attending.

Some point out that considering a whopping 100 million won-expense for the seminar, financed by the three organizers, the total amount of contracts doesn't live up to expectation although they saw the increase in the amount of contracts and consulting and the number of participating companies.

Buyers and local companies visited Hyundai Heavy Industries in Ulsan.

"Given that our consulting services focused not on ships but on equipment for ships and this year's seminar was held amid the Eurozone debt crisis, we should not downgrade the performance," said a South Gyeongsang Province official.

Source Text

Source: Yonhap News (June 14, 2012)

** This is the translation of a Korean article.