SEOUL, Feb 12 (AFP); South Korea's Hyundai Heavy Industries, the world's biggest shipbuilding firm, reported Thursday a record operating loss in 2014, due to slow demand from European clients and competition from Chinese rivals.
The company posted an operating loss of 3.25 trillion won ($2.9 billion) for the year, compared to a profit of 802 billion won in 2013.
It suffered a net loss of 2.2 trillion won in 2014, compared to a profit of 146 billion won the year before.
South Korean shipbuilders have been hit by the global economic slowdown and growing competition from Chinese rivals in recent years, forcing them to offer deep discounts to secure orders.
Hyundai shipyard posts record loss in 2014
FE Team | Published: February 13, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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