South Korean Constitutional Court upheld the decision of the South Korean parliament to impeach President Park Guen-hye
South Korea’s shipbuilding industry is also in a protracted crisis due to the oversupply conditions in world shipping, with the South Korean government having developed a US$9.6 billion rescue plan to provide financing and new ship orders to support its major shipbuilders.
Rajiv Biswas is Asia Pacific chief economist at IHS Markit
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