A growth theory perspective on the competitive landscape of shipbuilding: a comparative study of Japan, Korea, and China

Paul C. Hong (), Young Soo Park, David W. Hwang and Mehrdad Jalali Sepehr
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Paul C. Hong: University of Toledo
Young Soo Park: Midwest University
David W. Hwang: Shippensburg University
Mehrdad Jalali Sepehr: University of Toledo

Maritime Economics & Logistics, 2024, vol. 26, issue 3, No 5, 462-489

Abstract: Abstract The global shipbuilding industry has undergone profound transformations, diversifying in terms of scope, complexity, and trade impact. This study explores these shifts by analyzing the evolving patterns within shipbuilding firms from Japan, Korea, and China. We embark on a historical journey, tracing the transition of industry leadership from Europe to Asia. As a case study, we present a detailed examination of the five stages of the Korean shipbuilding industry's transformation, spanning from domestic advantage to global prominence. To establish a comparative framework encompassing the shipbuilding industries of Japan, Korea, and China, we introduce two critical parameters: innovative value delivery capabilities and global market positioning. These parameters illuminate the distinctive evolutionary paths taken by the three Asian countries within the realm of shipbuilding. Our findings underscore that in an environment characterized by intensifying competition and shifting geopolitical dynamics, leading companies strategically leverage their national manufacturing strengths and logistical infrastructure while adeptly navigating the complexities of global politics and the industrial policies pursued by their respective nations. This research offers invaluable insights and implications for future investigations of the global shipbuilding industry in the post-pandemic world.

Keywords: Shipbuilding industry; Comparative studies; Competitive landscape; Growth theory; Japan; Korea; China (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1057/s41278-023-00279-5

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