The 55-year-old man was working for a subcontractor on the Goliat platform construction for the Eni-led project in the Barent Sea, according to South Korean news website hani.co.kr.
The accident occurred when a 3.5 tonne piece of metal being moved by crane tore through its fabric support and crushed the man standing 5 metres beneath.
The man died two days later in hospital.
The incident marks the second fatality in the yard linked to the Goliat construction, according to Norwegian website Teknisk Ukelblad, while seven fatal accidents are reported to have occurred this year in the same shipyard, all involving subcontractors.