South Korea's top shipyards are expected to slash 80,000 jobs as they shut down 20% of their capacity by 2018 to cope with heavy losses and dwindling orders in the face of low oil and gas prices. Finance Minister Yoo Il - ho said this week the government would pump 12 trillion won ($10.4 billion), both directly and indirectly, into policy banks to finance the restructuring plans of the country's debt - laden shipbuilders.
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