South Korea Cites Bias in Move to Ban Japanese Ship Lines
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South Korea’s government is moving to bar foreign shipping lines from contracts in the state-run energy sector as it supports domestic companies struggling to recover from the global downturn.
State-controlled Korea Electric Power Corp. on Dec. 21 held an auction for its five units that effectively restricted participants to domestic shipping lines for the first time. The contracts, worth about $2 billion, require bidders to partner with another South Korean company and build nine ships in local shipyards that will carry coal from such countries as Australia.