SEOUL, Aug. 26 (Korea Bizwire) — HD Hyundai Co., South Korea’s leading shipbuilding conglomerate, said Tuesday it has signed an initial agreement to create a joint investment program aimed at rebuilding the U.S. shipbuilding industry, as part of bilateral cooperation between Seoul and Washington. The memorandum of understanding (MOU) was signed in Washington on Monday [...]
SEOUL, Aug. 26 (Korea Bizwire) — Samsung Heavy Industries Co., a major shipbuilder in South Korea, said Tuesday it has signed a strategic partnership with the United States’ Vigor Marine Group to cooperate on maintenance, repair and overhaul (MRO) of U.S. naval support ships. The company said it will actively participate in the U.S. Navy’s MRO [...]
SEOUL, Aug. 25(Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, will invest an additional US$70 million “to expand” its shipyard in Philadelphia, according to the White House’s website Monday. Hanwha Group acquired Philly Shipyard for 140 billion won (US$100 million) last year to enter the U.S. shipbuilding market, with a long-term goal [...]
SEOUL, Aug. 20 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering (HD KSOE) Co. said Wednesday it has signed a 290 billion-won (US$207 million) agreement to purchase Doosan Enerbility Co.’s Vietnam subsidiary. Under the deal, HD KSOE will take over all shares of Doosan Vina owned by Doosan Enerbility, the South Korean shipbuilder said [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea’s top container shipper, HMM Co., said Thursday it will buy back and cancel its own shares worth 2.14 trillion won (US$1.54 billion) as part of its shareholder return policy. In a regulatory filing, the company said it will repurchase roughly 81.8 million shares, or 7.98 percent of [...]
SEOUL, Aug. 14 (Korea Bizwire) — The South Korean government will create an interagency task force to support a shipbuilding partnership with the United States, a project officials say could open new markets for Korean shipyards while aiding the revival of America’s own maritime industry. Industry Minister Kim Jung-kwan announced the plan on Thursday during [...]
SEOUL, Aug. 13 (Korea Bizwire) — HD Hyundai, South Korea’s leading shipbuilding group, said Wednesday that senior government officials from South Korea and the United States visited its shipyard to discuss ways to expand bilateral cooperation in the shipbuilding sector ahead of a summit between their top leaders. Foreign Minister Cho Hyun; Joseph Yun, acting [...]
SEOUL, Aug. 12 (Korea Bizwire) — Foreign Minister Cho Hyun will visit HD Hyundai Heavy Industries Co.’s shipyard with Joseph Yun, the acting U.S. ambassador to South Korea, this week to explore ways to expand bilateral cooperation in the shipbuilding sector, the foreign ministry said Tuesday. Cho and Yun plan to visit the shipyard in [...]
SEOUL, Aug. 10 (Korea Bizwire) — Following the recent U.S.-South Korea trade agreement, South Korea’s shipbuilding stocks have seen a significant rise, propelling related exchange-traded funds (ETFs) to top performance rankings. The surge in stock prices has drawn substantial interest from individual investors, sparking speculation on whether the upward trend will continue. As of August 8, [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korean shipbuilding conglomerate HD Hyundai Co. said Thursday it has signed an agreement with U.S. defense technology company Anduril Industries Inc. to expand cooperation in the naval defense sector, particularly in the development of unmanned surface vessels (USVs). The two companies signed a memorandum of agreement (MOA) on [...]