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South Korean shipbuilders enjoy jump in new orders

Samsung and KSOE shares soar after megadeals point to end of slump

A Hyundai Heavy Industries shipyard in Ulsan, South Korea: Investors are increasingly bullish on the country's shipbuilders as they announce a slew of new orders.   © Reuters

SEOUL -- Things are looking up for South Korea's shipbuilders after a prolonged slump, as new orders pour in and global trade gets a boost from government stimulus-induced consumer demand during the coronavirus pandemic.

Beginning in the early 1970s and led by Hyundai Heavy Industries, South Korea overtook Japanese rivals and dominated the global industry for decades. But in recent years, China has taken advantage of lower costs to seize the mantle as the world's biggest shipbuilding nation.

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