Monday, April 2, 2012

Korea into leisure boat market

More and More South Korean small-and-medium shipbuilding related companies enter into yacht or leisure boat market.

Due to plummeted global commercial ship ordering by global financial crisis and being crushed by Chinese shipbuilders' low-priced ships, Korean small-to-medium yards try business diversification into yacht and leisure boat.

Market sources said that global leisure boat market would grow to $48bn in 2014 from $43.3bn this year. The US, France, Italy, etc., account for 90% of leisure boat export market.

There is an 'Offshore leisure mini cluster' in Daebul Industrial Complex Corporation, Youngam, South Jeolla Province. 27 small and medium sized companies are participated in the cluster. In 2008, when the mini cluster was launched, there were only 12 membered companies.

In particular, GHI Yachts exported a 62-feet yacht totalling $1.3m to Australia in 2009.

Besides Daebul incustrial complex, about 40-some small-to-medium companies in Busan, Ulsan and South Kyungsang Province are preparing for yacht business.

Published : March 30, 2012

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