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South Korea unveils $690m domestic shipbuilding package

Coming after Japan made a fresh complaint to the WTO concerning subsidies in South Korean shipbuilding, this move is unlikely to be helpful in easing trade tensions. The decision is ostensibly aimed at renewing the domestic shipping fleet

Smaller South Korean shipping firms will be able to receive financing up to 80% of the cost of new vessels from a combination of banks and policy lender Korea Development Bank

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