Korea's biggest yards all have investments in China - to differing scales of success. Many started out as block builders, sending giant steel structures across the Yellow Sea for final assembly at home yards in Korea, making the most of the cheap labour costs on offer in the Peoples Republic. Koreans were generally unwilling to upgrade their investments while an old law prohibiting foreign firms from majority stakes in shipbuilding yards in China remained in place. Once this law changed two and a half years ago there has been a sea change in the scope of investments.
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