Brussels, 14/05/2001 (Agence Europe) - The Industry Council "strongly supports" the European Commission's intention to launch a World Trade Organisation (WTO) procedure against South Korea if an amicable solution is not found by 30 June 2001 on the issue of unfair trade practices by this country in the shipbuilding sector (see EUROPE of 9 May, p.10). In its Conclusions, the Council confirmed "its serious concern that the critical situation in shipbuilding, characterised by very low prices and significant overcapacity attributable mainly to Korean shipyards, remains unchanged". The ministers welcome the fourth report from the Commission on the situation in world shipbuilding presented by Commissioner Erkki Liikanen. They called on the Commission to "continue monitoring the market situation closely" and to "work closely with the industry on competitiveness issues". They encouraged the European shipbuilding industry to continue improving its competitiveness.