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The government on Wednesday proposed an initiative aimed at boosting the competitiveness of Korea’s shipbuilding industry as the importance of the sector has grown amid global uncertainties. The initiative was unveiled at a meeting of related government authorities, including the industry, oceans and finance ministries, and executives from large to small and midsized shipbuilding companies in the southeastern city of Ulsan, which is home to many of the country’s largest shipyards, according to the Ministry of Trade, Industry and Resources. In the meeting, the industry ministry proposed three strategies aimed at making Korea the global leader in the shipbuilding sector, which are strengthening the fundamental manufacturing capabilities, expanding foothold in global markets, and creating a sustainable industrial ecosystem to promote balanced growth of both small and large companies. The initiative is needed to help the Korean shipbuilding industry maintain its power amid major economies’ push to rebuild their maritime capacity in the face of heightened uncertainties in global trade and a