The operating loss of South Korea’s three largest shipbuilding companies surpassed eight trillion won last year.
 
According to estimates by shipbuilding and securities firms on Thursday, Daewoo Shipbuilding and Marine Engineering is assessed to have posted an operating loss of about five trillion won. The operating loss for Hyundai Heavy Industries is estimated to have been one-point-five trillion won while the related figure was one-point-seven trillion won for Samsung Heavy Industries.
 
Analysts attributed the record high deficit to losses at offshore operations due to contract cancellations brought on by a deterioration in the global economy.
 
The so-called big three aren't expected to swing back to the black this year as economic conditions worldwide remains unchanged.

There will however be less of a burden as a large part of the losses were accounted for last year.