In 2011, South Korea positioned itself as the "Capital" of the Shipbuilding Industry. Turning its focus to high-value ships – LNG carriers, super tankers, drill ships, and large container ships – South Korea was able to over-take China who continued to focus on cheaper small- to mid-size vessels. In fact, even though overall shipbuilding requests decreased in 2011 compared to 2010, South Korea experienced an increase in the number of orders received. Home to 7 of the 10 largest shipbuilding yards and several of the top ten shipbuilders in the world, South Korea is likely to maintain its status as the top shipbuilder in the world throughout 2012.

After the success of 2011, there were high expectations regarding the numbers South Korea's Shipbuilding Industry would experience in 2012. Although it appears that South Korea may be short on its estimates after the first quarter of 2012, the call for high-value and high-tech ships are not expected to be severely affected unless international oil prices dramatically decrease. Furthermore, offshore plants and LNG carriers are expected to be the main contributor to orders in 2012 – a good sign for Korean shipbuilding.

Though South Korea is not expected to be extremely harmed by the economic crisis happening around the world, the lower than expected numbers are enough to stir interest in various but related shipbuilding sectors: such as offshore product demands like floating docks and potential extension into other sectors such as defense.

Aside from growth in shipbuilding, mining and refining activities are gaining momentum in South Korea.

There has been news of several South Korean companies trying to break into the mining industry internationally: for example, invested interest in Australia's mining industry. In fact, Australia is one of the top five mining nations along with Brazil, Canada, Chile, and Mexico.

Although South Korea is looking to expand its mining capabilities, the industry is faced with a gruesome challenge: a shortage of skilled manpower.

South Korea is one of many Asian economies that have experienced increase demand for energy, invoking efforts to upgrade the country's refining capability. In fact, in 2011 South Korea experience nearly 7% growth in crude oil imports further spurring the development and upgrades to its refining industry.