The Korea Herald


Ailing shipbuilders to turnaround in Q3

By 최희석

Published : Oct. 20, 2016 - 10:13

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[THE INVESTOR] South Korea's three largest shipbuilders are expected to post positive earnings in third quarter despite their ongoing troubles.

According to industry sources, the three companies -- Hyundai Heavy Industries, Samsung Heavy and Daewoo Shipbuilding and Marine Engineering -- are expected to post positive results largely due to their cost-cutting efforts. They have been carrying out restructuring including laying off workers, and selling off assets. 

Of the three, HHI is expected to post the largest earnings, with about 9.6 trillion won (US$8.58 billion) sales, and 340 billion won operating profit.

Samsung Heavy is projected to post sales of 2.4 trillion won, and operating profit of about 59 billion, and DSME is forecast to log revenue of 3.1 trillion won and operating profit of between 30 billion won and 40 billion won.

By Choi He-suk (