Korean Shipyards to Buy 12% Less Steel Plate

Korean Shipyards to Buy 12% Less Steel Plate

SeongJoon Cho/Bloomberg

Hyundai Heavy Industries Co.'s shipyard in Ulsan, South Korea. Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. will cut purchases to a combined 6.5 million metric tons from 7.4 million tons, according to company figures.