SEOUL, Nov. 10 (Korea Bizwire) — Hanwha Ocean Co. on Monday welcomed China’s decision to suspend its sanctions on U.S. subsidiaries of the South Korean shipbuilder for one year, also expressing hope for its improved ties with Chinese partners. “We welcome the Chinese government’s decision,” Hanwha Ocean said in a statement. “We hope our relationship [...]
SEOUL, Oct. 20 (Korea Bizwire) — The South Korean government will formally launch the “K-Ship Tech Alliance” next year, a sweeping initiative designed to accelerate the shipbuilding industry’s transition to artificial intelligence (AI) technologies as part of the country’s broader industrial innovation strategy. Announced at a high-level economic ministers’ meeting chaired by Deputy Prime Minister and [...]
SEOUL, Oct. 17 (Korea Bizwire) – HD Hyundai, South Korea’s leading shipbuilding conglomerate, said Friday it has appointed Executive Vice Chairman Chung Kisun, the third-generation member of the founding family, as chairman, marking a shift to an owner-led management structure. The move ends the professional management system that had been in place for decades. Outgoing [...]
SEOUL, Oct. 14 (Korea Bizwire) – China announced Tuesday it will impose retaliatory measures against five U.S.-based subsidiaries of South Korean shipbuilder Hanwha Ocean Co., accusing them of cooperating with a U.S. investigation targeting China’s maritime and shipbuilding industries. In a statement, the Chinese commerce ministry claimed Hanwha Ocean’s U.S. affiliates assisted and supported the [...]
SEOUL, Oct. 13 (Korea Bizwire) — HD Hyundai is exploring multiple options for expanding into the United States, including acquiring shares in an existing shipyard or building one from the ground up — a move that could mark one of the most significant steps yet by a Korean shipbuilder into the U.S. market. According to industry [...]
SEOUL, Oct. 6 (Korea Bizwire) – India is seeking deeper cooperation with South Korea in the shipbuilding sector as it strives to become one of the world’s top five shipbuilding nations by 2047, India’s secretary for shipping has said, highlighting the need to combine Seoul’s advanced technology with New Delhi’s abundant manpower. Shri T. K. [...]
SEOUL, Oct. 2 (Korea Bizwire) — A flurry of new liquefied natural gas (LNG) projects worldwide is fueling expectations of a rebound in orders for LNG carriers, a sector where South Korean shipbuilders hold a commanding lead. Yet analysts warn that years of heavy contracting may leave the market vulnerable to another downturn. According to [...]
SEOUL, Sept. 17 (Korea Bizwire) — Hanwha Ocean Co. said Wednesday it has clinched a 1.93 trillion-won (US$1.47 billion) order from Taiwan’s YangMing Marine Transport Corp. to build seven liquefied natural gas (LNG) dual-fuel container ships. The vessels, each with a capacity of 15,880 twenty-foot equivalent units (TEUs), will be built at Hanwha’s Okpo Shipyard [...]
SEOUL, Sept. 12 (Korea Bizwire) — South Korea’s corporate sector is bracing for a slowdown in U.S. investment following the detention of more than 300 Korean nationals in an immigration raid, a crisis that has already disrupted battery factory construction and cast doubt over high-profile bilateral projects. The most immediate impact has fallen on HL-GA, [...]
BUSAN, Sept. 11 (Korea Bizwire) — Two affiliates of HD Hyundai have received approval in principle for an Internet of Things–based smart cabin system designed to optimize energy use and improve onboard living conditions, the Korean Register (KR) said Wednesday. The certification, granted jointly to HD Hyundai Samho Heavy Industries and HD Hyundai Mipo Dockyard, verifies [...]