Shipbuidling of Geoje

Shipbuilding is the construction of ships and floating vessels. It normally takes place in a specialized facility known as a shipyard. Shipbuilders, also called shipwrights, follow a specialized occupation that traces its roots to before recorded history.

South Korea is the world's largest shipbuilding nation with a global market share of 53.2% in 2011. South Korea is the global leader in the production of advanced high-tech vessels such as cruise liners, super tankers, LNG carriers, drill ships, and large-sized container ships. In the 3rd quarter of 2011, South Korea won all 18 orders for LNG carriers, 3 out of 5 drill ships and 5 out of 7 large-sized container ships.

South Korea's shipyards are highly efficient, with the world's largest shipyard in Ulsan operated by Hyundai Heavy Industries slipping a newly-built, $80 million vessel into the water every four working days.South Korea's "big three" shipbuilders, Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding & Marine Engineering, dominate global shipbuilding, with STX Shipbuilding, Hyundai Samho Heavy Industries, Hanjin Heavy Industries, and Sungdong Shipbuilding & Marine Engineering also ranking among the top ten shipbuilders in the world.In 2007, STX Shipbuilding further strengthened South Korea's leading position in the industry by acquiring Aker Yards, the largest shipbuilding group in Europe. (The former Aker Yards was renamed STX Europe in 2008). In the first half of 2011, South Korean shipbuilders won new orders to build 25 LNG carriers, out of the total 29 orders placed worldwide during the period.(ref-wikipedia, shipbuilding websites)

China is an emerging shipbuilder that briefly overtook South Korea during the 2008-2010 global financial crisis as they won new orders for medium and small-sized container ships based on their cheap prices, although its current production is limited mainly to basic vessels.

Japan lost its once industry leading position to South Korea in 2003,and its market share has since fallen sharply. The European nations' combined output has fallen to a tenth of South Korea's, and the outputs of the United States and the rest of the world have become negligible.