(FILES) This file photo taken on May 6, 2005 shows a view of the Hyundai Heavy Industries shipyard in Ulsan.Shares in Hyundai Heavy Industries plunged by more than a quarter on December 27, 2017 after the worlds largest shipbuilder by sales announced a plan to issue new stocks in a bid to shore up its ailing finances. / AFP PHOTO / KIM JAE-HWAN
SEOUL: Shares in Hyundai Heavy Industries plunged by more than a quarter after the world’s largest shipbuilder by sales announced a plan to issue new stocks in a bid to shore up its ailing finances.
The South Korean firm has struggled amid an industry-wide slump in recent years, as global demand slowed and competition from China intensified while overcapacity slashed prices.
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