S. Korean shipbuilders' exports up by 15%

S. Korean shipbuilders' exports up by 15%

S. Korean shipbuilders' 2005 exports increased by 15 percent from a year earlier thanks to the deliveries of high value added product, S. Korean sources report. The shipbuilders' total exports in 2005 reached $17.6 billion from $15.3 billion recorded in the previous year, the South Korea Shipbuilders' Association said. The increase in the exports has been attributed to the industry's selective receipt of orders. “Exports rose sharply as the shipbuilders delivered higher-priced ships whose orders were received in 2004,'' the association said. The association expects exports to increase by 10 percent this year.