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Russia offers South Korean shipbuilders hope

Daewoo delivers first icebreaker LNG carrier, Hyundai launches joint venture

The world's first icebreaker LNG carrier, built by Daewoo Shipbuilding & Marine Engineering, navigates through icebergs. (Photo provided by the company)

SEOUL -- Struggling South Korean shipbuilders are finding opportunities in Russia, with the recent delivery of the world's first icebreaking liquefied natural gas carrier there as well as the launch of a joint venture with a local shipping company.

Russian President Vladimir Putin attended the naming ceremony of an icebreaker LNG ship built by Daewoo Shipbuilding & Marine Engineering in St. Petersburg Saturday. The $320 million vessel was delivered to Sovcomflot, a Russian shipping company in March.

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