An aerial view shows vessels under construction at an HD Hyundai shipyard in South Korea. Photo courtesy of HD Hyundai
June 29 (Asia Today) -- South Korea's major shipbuilders remain global leaders in the construction of liquefied natural gas carriers, but their continued reliance on foreign technology for some critical equipment presents a challenge as competition from China intensifies.
HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean and Samsung Heavy Industries have secured a strong position in the global market for high-value LNG carriers.
Building more ships, however, does not necessarily mean that South Korea has secured full control of the technologies and supply chains needed to produce them. Some critical components and systems are still supplied under foreign licenses or imported from overseas companies.
HD Korea Shipbuilding & Offshore Engineering's recent development of a domestically produced high-pressure LNG fuel pump is therefore significant beyond the introduction of a single product. The project represents an effort to expand South Korea's marine equipment industry and reduce its dependence on foreign suppliers.
