Korea's Hyundai Mipo Dockyard has clinched a new order for a cruise-type car ferry.

Domestic operator Seaworld Express Ferry is paying KRW 68bn ($60.5m) for the 27,000-gt ship.

It will be delivered in September 2020 for service between Mokpo and Jeju.

The order has been won as part of the Coastal Passenger Ship Modernisation Fund project, it said.

This presents a new opportunity for the shipbuilding industry, it added, as owners look to replace older vessels.