The government said on Thursday that it will increase eight-thousand jobs related to the production and development in the country’s shipbuilding industry by next year and enhance productivity by 30 percent in the sector by 2030.

The plan was announced as part of the K-shipbuilding revival strategy that related government ministries jointly drafted to reinforce its No. 1 position in the shipbuilding sector. 

South Korea has been jockeying for the top position with China in recent years, as they lost contracts due to cutthroat price competition. Still South Korean builders have been making a comeback as they win more lucrative orders such as those for liquefied natural gas(LNG) carriers.

There are growing signs of a pickup by local shipbuilders with their combined new orders amounting to 12-point-85 million compensated gross tons (CGT) between January and July this year, accounting for 42 percent of all global orders for the period. 

The South Korean government expects the surge in global orders will help add thousands of jobs in the local shipbuilding industry.

Under the strategy, shipbuilders reemploying those who were forced to retire early will receive 300-thousand won to 500-thousand won in monthly wage subsidies for each hire for up to eight months. 

Meanwhile, the government also offered targets to increase the country’s global market shares regarding environment-friendly vessels and autonomous ships to 75 percent and 50 percent, respectively.