Korea’s top three shipbuilders — Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering — recorded improved performances during the first quarter of this year, according to industry insiders on Wednesday.
The world’s No. 1 shipbuilder Hyundai Heavy Industries reaped its first profit in 10 quarters with a net profit of 244.5 billion won ($210 million), although most of the profits were from non-shipbuilding activities.
Moreover, the troubled DMSE recorded a net profit of 31.4 billion won compared to its 1.1 trillion won net loss last quarter.
Samsung Heavy Industries additionally saw improved performance, with a net profit of 15.9 billion won compared to a 42.9 billion won net loss last quarter despite a 21.6 percent decrease in revenue and 79.6 percent decrease in operating profit.
(Graphic: Han Chang-duk)