In the stagnation and crisis of Shipbuilding industry, the enhancement of productivity is the most important to increase the Competitiveness. Therefore, in order to Increase productivity of shipbuilding industry in Korea, this study aims to develop a Key Performance Indicators of erection process in shipbuilding industry. For the purpose of developing key performance indicators, the primary indicators are composed of articles related to supply chain and manufacturing performance and classified into Supply Chain Operation Reference model`s Performance categories modified to suit the shipbuilding. And then the final key performance indicators are derived from delphi survey conducted three times. The derived performance indicators consisted of 43 indicators in six categories: production, customer, flexibility, cost, quality, learning & growth. This research is meaningful in that it has made it possible to measure the performance of a specific industrial`s core process by combining the supply chain and the manufacturing viewpoint. Also, by utilizing these key performance indicators, it is possible to analyze and improve the status of erection process and as a result, it will help to secure production competitiveness of the shipbuilding industry.