Yoon Keun Jang does not believe South Korean shipbuilding is in terminal decline.

“As far as I know, the shipbuilding industry always [has] been pointed out as a sunset industry, even during the booming period in mid-2000s,” said the K Shipbuilding chief executive and president.

“The shipbuilding industry has been South Korea’s major export industry for decades, along with automobiles, steel, petrochemicals and semiconductors.