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Shipbuilders head to North Korea

Shipbuilders head to North Korea

Seoul: A delegation of 37 South Korean shipbuilding executives and government officials are wrapping up a four day trip to North Korea, eyeing possible locations in the Hermit Kingdom to base new shipyards.

The delegation includes executives from Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering.

South Korean President Roh Moo-hyun and North Korean leader Kim Jong Il met in early October in the first summit in seven years to build closer economic ties. They agreed to increase cooperation, including building shipyards or factories for shipbuilding parts in North Korea.

The delegation is visiting Nampo and Anbyun in North Korea to study if the areas can support shipbuilding needs, such as geological, electrical and communication conditions.

The sides plan to meet in Busan, South Korea between December 25 and 28 for more discussions.  [17/12/07]