Trade, Industry and Energy Minister Joo Hyung-hwan says the government will do its part to support small shipyards.

He met with shipbuilding executives in South Jeolla Province Thursday.

Under a new plan, the government and public institutions will place orders for small and medium scale shipyards to build warships and other public-purpose vessels worth some four-point-two trillion won or three-point-seven billion U.S. dollars.

The shipping sector has faced a sharp decline in orders in recent years.

The minister said the government plan is aimed at spurring new demand, but added the domestic shipbuilding industry would have to adjust in size on a company-by-company basis.