Shipbuilding and Shipping market would still be unrecovered in the second half of this year, while steel and petrochemistry would also struggle by stagnant demand.
In a report 'H2 2012: Korea's major industrial forecast' from Korea Development Bank on July 2, steel, etc., will suffer from depressed domestic demand and shipbuilding and petrochemistry, etc., will continue oversupply. 
In case of shipbuilding market, demand for commercial ship has slowed down and Chinese shipyards' low-margin new order pressures newbuilding price down further.
Small-and-medium sized shipyards are expected to compete even stronger for newbuildings due to shrinking orderbook.
South Korean shipbuilders' overall orders contracted in the first half of the year plummeted by 64.2% year-on-year. In H2, new order will grow by 21% y-o-y from base effect, but for the whole 2012, new order is expected to decline by 38.5% y-o-y.