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China: S Korean ship equipment manufacturers eye Chinese market amid global trade tensions
[Voiceover] With volatile U.S. tariffs and uncertain global trade as a backdrop, more and more South Korean ship equipment manufacturers are expanding their presence into Chinese markets. Busan, the second largest city in South Korea is also a crucial shipbuilding city where nearly 60 percent of small and medium-sized ship makers are based. To enhance their competitiveness in China, one company says they're also developing a liquid cargo tank to carry LNG, liquefied natural gas. [Soundbite] Lee Geun-hyung, manger, shipbuilding company: "I agree very much that gaining access to the Chinese market means an access to the global market. At present, Chinese customers have quite high requirements for product quality. Companies like us should not only reduce costs, but also upgrade our second and third generations of products so as to enhance our brand's market recognition and competitiveness." [Voiceover] Data shows the company exported 17 million U.S. dollars-worth of products to China in Q1 this year, representing 30 percent of its sales. [Restrictions: No access Chinese mainland]
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