South Korea has unveiled a massive stimulus package for its shipbuilding industry, in a move that will raise the hackles of competition authorities in Europe and Japan.
The Export-Import Bank of Korea (Kexim) will reportedly inject KRW5.2tn ($4.2bn) into the sector to help it overcome the problems caused by Covid-19.
Nomura shipbuilding analyst Jaehyung Choi said the funds could help mitigate the financial risk that small to medium-size shipbuilders are facing.
