Korean S&M "Red Light"

Source:Asiasis
2012.02.23
709

As global shipbuilding industry is in a serious trouble, South Korea's endangered small medium sized yards are facing lack of work or going bankruptcy.
Moreover,  recent crisis in shipbuilders hit local economy, which depends highly on shipbuilding industry, as well. 
Local residents in Donam-Dong, Tong Young concern that as medium-sized Samho Shipbuilding would go into liquidation, other neighboring yards would go bankrupt as well.
Samho is going through legal liquidation procedure, having appointed a trustee in bankruptcy and sent dismissal notices on February 15th, etc.
Around Donam-Dong, besides Samho, 21st Century Shipbuilding and ShinaSB are located and these yards also are in crisis without work.
The labor union of ShinaSB is conducting a campaign for 'local yards rehabilitation' and plans to have a signature collecting movement and turning it with a petition to the government.
Without additional order contract, small medium size yards would be difficult to recover.

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