Backlash Against Billionaires After Fall of Korea's Richest City
- Korea’s Hyundai Heavy reorganizes as Chinese competition rises
- Workers worry change will benefit founder’s family more
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Park Jin-ok was one of the first to take voluntary retirement at Hyundai Heavy Industries Co. after working as a welder for the world’s largest shipbuilder for 15 years. Since he left in 2016, he has been joined by some 35,000 workers who quit or lost their jobs at the shipyard in South Korea’s port of Ulsan, in a downturn as dramatic as it was sudden.