“EU Discusses Lawsuit on Korean Shipbuilding Industry to WTO”

European Union (EU) gave new results of investigation on 7th that insists Korean ship building industry is conducting unfair competition with EU shipbuilding industry.

Pascal Rami, executive member of EU trade said, “ result of this investigation is a new data that EU shipbuilding industry submitted in last December” and “committee of trade wall and industry committee under EU will discuss it in last month and next month”.

He refused to disclose, saying, “result of investigation is top secret document that decides fate of member nations”.

Quarters delivered that EU is discussing relaxation on control system of subsidy related to EU industry, in order to cope with Korean government`s excessive subsidy towards shipbuilding industry, based on this top secret document.

Quarters added that EU can file a case to WTO against Korean shipbuilding industry along with increasing subsidy to their nations.

Korean government protests on this that EU is also providing subsidy regarding shipbuilding industry to their nations.

Korea received on order of 30 LNG ships last year, and seized 80 percent of the World`s LNG shipbuilding industry, however, EU reached 7 percent which was a fall from 21 percent in 2000.

EU started the first investigation regarding Korean shipbuilding industry in the year 2000, according to insistence of EU industries that Korean shipbuilding industry is conducting unfair competition, being backed by government subsidy.

Dae-In Sun eodls@donga.com