Core Insights - The global shipbuilding industry is experiencing a competitive landscape where South Korea dominates in high-value orders, capturing 62% of the value share despite delivering fewer vessels compared to China, which delivered 21 ships but only secured 19% of the value share [1][3] - China's shipbuilding sector is highly efficient, holding nearly 60% of global orders and planning production schedules up to 2029, yet it faces challenges in improving profitability and moving towards high-value products [3][5] - South Korea excels in the LNG carrier segment, achieving a remarkable operating profit margin of 12.7%, indicating a strong demand for high-end market products that require advanced technology [5][6] Industry Analysis - The report highlights the disparity in technological capabilities between China and South Korea, with South Korea achieving over 85% localization in key technologies, while China relies on foreign technology for critical components [5][6] - Shipowners are increasingly favoring established shipyards with proven technology, as evidenced by the recent order split between Evergreen Marine, which allocated 6 vessels to South Korea and 5 to China, reflecting a strategic assessment of technological reliability [8] - The shipbuilding industry in China must shift focus from merely increasing the number of vessels delivered to enhancing the quality and value of products, necessitating investment in R&D and a long-term strategy to develop proprietary technologies [8][10]