I kid you not. And the Hanjin shipyard at Subic Bay has just delivered its first VLCC, and is building three 20,000 TEU containerships... http://splash247.com/vlcc-delivery-highlights-philippines-emergence-top-shipbuilder/
It used to be a bigger shipbuilder before a couple of yards closed at Balamban on Cebu's west coast. One of these was a wholly-owned subsidiary of the British company that built the Southampton to Isle of Wight ferries, one of which was actually built in the Philippines. A German member of this forum used to run the staff canteen at the Balamban shipyard as well as a restaurant-cum-b&b.
Hnajin Subic employs 21,000 Filipinos as well as substantial numbers of Koreans (of course) and more surprisingly several hundred Romanians.
I have seen the shipyard when looking across the bay from Baloy Beach. Why is Subic such a good location for the shipyard, and why has Subic been the location for a major US naval base in the past? I would guess it is the deep water and protected bay, are there any other factors?
Subic Bay is an excellent typhoon proof natural harbour- far better than Manila Bay - but the hills that have to be crossed made it unattractive as a commercial port in the days when carabao carts were the main form of land transport. It was therefore little used until the USA wanted a naval base. The USN developed Subic not just as a naval base but as its western Pacific heavy repair centre. (This is the point that everyone misses- not least the Philippines Government!) Filipinos were cheaper than US union labour. When the Philippines asked for more in rent than the savings in labour cost, the USN pulled out and moved its Pacific repairs to Hawaii and San Diego. There was therefore a pool of skilled welders and machinists, whom Hanjin could employ, living in Olongapo. And that is why the yard is there.
Two separate entities. http://www.hellenicshippingnews.com/subic-shipbuilder-not-associated-with-bankrupt-hanjin-shipping/
And a few more bits and pieces, like Korean Air... https://en.m.wikipedia.org/wiki/Hanjin#/search https://en.m.wikipedia.org/wiki/Cho_Yang-ho
Me too, but Romania did once have a shipbuilding industry in the days of Ceausescu. It was total carp, but there will be some knowledge there.