If 'Grexit', the worst scenario of Greece exiting from the eurozone, comes to reality, among South Korea's export industries, shipbuilding and automobile industries will be the biggest victims.
On May 24, researcher Ju Won of Hyundai Research Institute analyzed impact of depressed European economy on Korea's export and said, "If Greece announce default and exit eurozone, delevaraging in Europe might doom Korea's shipbuilding, automobile, machinery industries, etc., which depend highly on exports to the European Union."
Particularly, in case of shipbuilding industry, its export to the EU accounts for 20%. It is expected to suffer a heavy blow.