The president of Mohawk College says a drop in international student enrolment at the Hamilton institution is facing a projected $50 million deficit in the 2025-2026 school year. That’s going to mean layoffs, he said.

The Korean shipbuilding industry is one of the top global players, leading by value and second only to China by volume. However, the global economic crisis has dented its finances and it now faces serious challenges to set itself back on a solid footing.