SEOUL, Jan. 26 (Korea Bizwire) – Hyundai Motor Group Executive Chair Euisun Chung will join a South Korean government-led delegation to support Seoul’s defense cooperation with Canada, including Ottawa’s submarine acquisition project, industry and government sources said Monday. Chung is scheduled to depart for Canada in connection with the mission, according to the sources. The [...]
SEOUL, Jan. 16 (Korea Bizwire) — Samsung Heavy Industries on Friday launched the hull of a massive floating liquefied natural gas facility ordered by Italy’s state-run energy company ENI, underscoring South Korea’s growing role in the global offshore gas market. The vessel, named Coral North, was launched at Samsung Heavy Industries’ shipyard in Geoje, about 400 [...]
SEOUL, Dec. 22 (Korea Bizwire) — HD Hyundai Heavy Industries is moving closer to its first overseas submarine export, signing a joint development agreement with Peru as Seoul seeks to expand the global reach of its defense manufacturing sector. The company said on December 21 that it had concluded a contract with the Peruvian Navy and [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korea has launched a public-private working group to push for the development of proprietary liquefied natural gas (LNG) cargo tanks to lessen dependence on foreign technologies, the industry ministry said Monday. The working group comprises industry, finance and oceans ministries, as well as major Korean companies, including Korea [...]
SEOUL, Dec. 12 (Korea Bizwire) — Hanwha Group secured approval from the Australian government to increase its stake in Austal Ltd., advancing the South Korean conglomerate’s effort to expand its defense and shipbuilding footprint across Oceania and North America. Australia’s Treasurer Jim Chalmers said the government will allow Hanwha to lift its shareholding in the Perth-based [...]
SEOUL, Dec. 1 (Korea Bizwire) — Samsung Heavy Industries Co., a major shipbuilder in South Korea, said Monday it has opened a remote operation center at Taiwanese shipping conglomerate Evergreen Group’s headquarters in Taipei. The Samsung Remote Operation Center (SROC) serves as a land-based control tower that monitors vessel information and equipment status in real [...]
SEOUL, Nov. 20 (Korea Bizwire) – HD Hyundai, South Korea’s leading shipbuilding group, on Thursday announced a partnership with the Ulsan National Institute of Science & Technology (UNIST) to speed up efforts to apply artificial intelligence (AI) technologies in the shipbuilding industry. Under the agreement involving HD Korea Shipbuilding & Offshore Engineering Co., HD Hyundai [...]
SEOUL, Nov. 19 (Korea Bizwire) – HD Hyundai, South Korea’s leading shipbuilding group, said Wednesday it has become the world’s first shipbuilder to deliver 5,000 vessels, reaching the milestone 50 years after its inaugural ship delivery. The 5,000th vessel, delivered last month, was the Diego Silang, the second offshore patrol vessel built for the Philippine [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s auto, shipbuilding and semiconductor industries on Friday broadly welcomed the release of the joint fact sheet detailing the country’s trade and security agreement with the United States, easing weeks of anxiety over steep tariffs. But automakers voiced disappointment that the timing of tariff reductions remains unclear and that [...]
SEOUL, Nov. 13 (Korea Bizwire) – HD Hyundai, South Korea’s leading shipbuilding conglomerate, said Thursday its chairman held talks with a state minister of India to discuss ways to expand cooperation in the shipbuilding and maritime industries. HD Hyundai Chairman Chung Ki-sun met with Hardeep Singh Puri, India’s minister for petroleum and natural gas, in [...]