The Basis for South Korea's Ascent in the Shipbuilding Industry, 1970–1990

Bruno, Lars Christian; Tenold, Stig

doi:10.1080/00253359.2011.10708948

Cited by 19 publications

(6 citation statements)

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“…In 1967, the South Korean government issued the Shipbuilding Promotion Law and established the first large shipbuilding port in South Korea in 1970. It was owned by the South Korean government and was called the Korean Shipbuilding and Engineering Corporation (KSEC) [54,55]. This step was followed by a series of government measures to support this industry, including the establishment of large warehouses for the private sector at ports, and the provision of financial credit and tax exemptions to the private sector, the most important of which was the large government ship purchase orders from the private sector.…”

Section: From Imitation To Innovation In Korean Shipbuildingmentioning

confidence: 99%

“…However, these ships were known in the West as Japanese counterfeit ships of low quality. For South Korea to become the largest producer of ships globally despite its humble beginnings and lack of technology, South Korean companies signed 159 technological licenses from foreign companies for shipbuilding from 1962 to 1987 (25 years), with a total value of USD 117 million, including Hyundai's license from British companies Appledore and Scott Lightglow of USD 1.7 million in 1972, in addition to a share of the company's future sales (0.5%) The technological licensing contracts signed by South Korean companies included a contract of USD 281,000 with the German Naiereorm Company in 1979 for designs to build a ship with a capacity of 80,000 tons, a contract worth about USD 11 million with the Danish B&W Company in 1982 for the design of a ship with a capacity of 130,000 tons, and a contract worth USD 100,000 with the Danish BWS Company in 1985 for the design of a ship with a capacity of 170,000 tons [54]. There was a turning point that benefited the South Korean government and entrepreneurs.…”

Section: From Imitation To Innovation In Korean Shipbuildingmentioning

confidence: 99%

“…Thus, the production of South Korea (according to production capacity) became greater than the production of all of Europe. The top three Korean companies in production in 1990 were Hyundai with a capacity of 3 million tons, Daewoo with 2.754 million tons, and Samsung with 0.802 million tons [54].…”

Section: From Imitation To Innovation In Korean Shipbuildingmentioning

confidence: 99%

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Review of Korean Imitation and Innovation in the Last 60 Years

Al-Shamsi

2022

Sustainability

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This review is dedicated to analyzing South Korean technological progress, which has shown impressive economic performance, which has earned South Korea a well-deserved place among industrialized countries. Korea’s advances in the electronics, semiconductors, automotive, and shipbuilding industries have demonstrated industrial maturity and high innovative ability. To understand how they reached their position today, we have to understand to the core of the process by researching the roots of these innovations over the past 60 years, identifying specific innovations and tracing their transmission throughout South Korea. The technology transfer and development model of South Korea is unique. After other countries refused to license and transfer modern technologies to this country, Korea resorted to its national research system to add innovative content to its imitative products. This review article summarizes the experience of Korea, from not having access to technology to innovation and economic progress, which led to increases in per capita income, the prosperity of urbanization, and the recovery of markets. The model of technology transfer in Korea is valuable, especially for today’s developing countries. What it offers is not pure theory, but rather a successive series of procedures undertaken by the government of Korea. It has not been a matter of chance, and their economic prosperity was not due to the sudden discovery of natural resources.

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Section: From Imitation To Innovation In Korean Shipbuildingmentioning

confidence: 99%

Section: From Imitation To Innovation In Korean Shipbuildingmentioning

confidence: 99%

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Review of Korean Imitation and Innovation in the Last 60 Years

Al-Shamsi

2022

Sustainability

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“…When Livanos, Japan Line, and CY Tung cancelled their orders while the ships were being built, HHI was on the verge of bankruptcy (Eum, 2009: 78). To save HHI, Hyundai set up a shipping company, Hyundai Merchant Marine Company, and took over the ships that those three shipping companies did not take (Bruno and Tenold, 2011: 212). Hyundai Merchant Marine Company began to use the ships to carry cargo, including construction tools and other equipment, to Hyundai Construction’s construction sites in the Middle East.…”

Section: Hyundai’s Success and Cold War Alliancementioning

confidence: 99%

A Geopolitical Economy of Heavy Industrialization and Second Tier City Growth in South Korea: Evidence from the ‘Four Core Plants Plan’

Choi

Glassman

2017

Critical Sociology

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In this article, we examine heavy industrialization and second tier urbanization in South Korea during the 1970s from a geopolitical economic perspective. We highlight the crucial, spatially complex geopolitical process of forming transnational class alliances, embedded in Cold War geopolitics, which has been neglected within state-centric developmental state theories and approaches to urbanization. Specifically, we trace the changes in the state’s original developmental plan for promoting the machinery industry in the southeast region during the 1960s and 1970s. We show how Hyundai, one of the most dominant chaebols, grew to exercise decisive influence over the state’s developmental strategy and became a powerhouse in the Korean economy, particularly in the city of Ulsan. Based on a case study of the Four Core Plants Plan, we show that the success of Hyundai was not an outcome of the effectiveness of the state’s developmental policy but was, ironically, due to the failure of the government’s original plan. The successful substitution of Hyundai’s own strategy for the state’s plan, which contributed enormously to the growth of Ulsan, would have been impossible without Hyundai’s enrollment into the transnational geopolitical economic alliance spurred by US military projects in Asia.

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“…Calculated on the basis of the rate from the Persian Gulf to the UK/Continent, monthly figures, from Fearnley & Egers Chartering Co.,Review 1973, 23. 8 SeeTodd (1981Todd ( , 2011 andBruno and Tenold (2011). In Chap.…”

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confidence: 99%

Norwegian Shipping in the 20th Century

Tenold

2019

Palgrave Studies in Maritime Economics

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Palgrave Studies in Maritime Economics is a new, original and timely interdisciplinary series that seeks to be pivotal in nature and improve our understanding of the role of the maritime sector within port economics and global supply chain management, shipping finance, and maritime business and economic history. The maritime industry plays an increasingly important role in the changing world economy, and this new series offers an outlet for reviewing trends and developments over time as well as analysing how such changes are affecting trade, transport, the environment and financial markets. Each title in the series will communicate key research findings, shaping new approaches to maritime economics. The core audience will be academic, as well as policymakers, regulators and international maritime authorities and organisations. Individual titles will often be theoretically informed but will always be firmly evidencebased, seeking to link theory to policy outcomes and changing practices.

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The Basis for South Korea's Ascent in the Shipbuilding Industry, 1970–1990

Cited by 19 publications

References 4 publications

Review of Korean Imitation and Innovation in the Last 60 Years

Review of Korean Imitation and Innovation in the Last 60 Years

A Geopolitical Economy of Heavy Industrialization and Second Tier City Growth in South Korea: Evidence from the ‘Four Core Plants Plan’

Norwegian Shipping in the 20th Century

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