The government will consider designating the shipbuilding industry, mired in serious management woes due to a slump and oversupply in the global market, as a sector requiring "special employment support" by no later than the end of June.

The government and the ruling Saenuri Party held a meeting with related agencies at the National Assembly on Tuesday and agreed that under the scheme, the government will offer various employment stabilizing programs for both the unemployed and the employed.

Designating businesses for special employment support is a system introduced last year to provide concentrated assistance to sectors that carry the risk of sudden deterioration in employment conditions.

The government and ruling party also agreed to allow small-scale subcontractors of shipbuilders to delay their payment of taxes, insurance premiums and other fees and charges that are in arrears due to their financial straits.

The Financial Services Commission will also encourage new loan extensions to shipbuilders and their partner firms that are short of funds to build vessels.

The Ministry of Employment and Labor, meanwhile, will actively address issues of job loss and back wages that inevitably arise during the restructuring process of the shipping industry, with the vice labor minister directly overseeing talks between labor and management circles.