On January 7, China Rilin Construction Group and Korean Daewoo Shipbuilding Ocean Company signed a memorandum of understanding in Shenyang to jointly construct a shipbuilding industrial base in Dandong.

Under the MoU, the two parties will jointly invest and construct the shipbuilding project. The project involves shipbuilding, steel structure building, ship repairing, ocean facility repairing and manufacturing, mineral development and logistics.