The shipbuilding market of Korea is expected to be recovered after nation’s small or mid-sized shipbuilders go through the last hardship for about one or two more years to come.  
Recently, Yang Jong-Seo, a researcher of the Export-Import Bank of Korea, has said through a report, “Thanks to the demands for investment in fuel-efficient vessels, the orderbook will improve after one or two more years of hard time.” Also he said, “The orderbook war for fuel-efficient vessels among the large shipping companies will take more time to have a ripple effect on small/mid-sized companies. However, demands for eco-friendly Green Ships seem to gradually increase.”
Also, he stressed thattechnology development is fundamental for small and mid-sized yards to respond to the investment demands for the fuel-efficient vessels. “The shipowners are likely to invest with careful consideration in yards which are equipped with the technology for building fuel-efficient ships as they invest with funds raised by shortening lives of existing vessels and selling them for scrap."
However, he pointed out that individual R&D is weak for small and mid-sized yards to develop and secure the skills to build fuel-efficient and energy-saving vessels. He also emphasized that a variety of measures need to be taken, such as getting supports from the government sectors and building a mutual cooperation model between large and small/mid companies.
Meanwhile, according to the report, the newbuildings contracted by the small and mid-sized shipyards that build steel vessels for export (except those of Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, Samsung Heavy Industries, Hyundai Mipo Dockyard, Hyundai Samho Heavy Industries, STX Offshore & Engineering and Hanjin Heavy Industries & Construction) totaled $1.33bn with 64% drop from the previous year (484,000CGT with 74% decrease) in 2012.
Especially, of the shipbuilding industries, the small and mid-sized building industry accounted for 4.4% last year plummeted from 26.7% in 2007 and 12.6% in 2010.