SEOUL, June 10 (Korea Bizwire) — South Korea’s Hanwha Group said Tuesday it has received approval from the U.S. government to acquire up to a 100 percent stake in Australia-based shipbuilding and defense firm Austal, clearing a major hurdle in its push to expand its presence in the global defense market. The recent approval from [...]
SEOUL, June 2 (Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, said Monday it has partnered with Lloyd’s Register (LR) of Britain to strengthen cooperation on ship certification as part of its broader strategy to expand into Europe’s naval vessel markets. The companies signed a strategic memorandum of understanding (MOU) Friday during [...]
SEOUL, May 30 (Korea Bizwire) — HD Hyundai Samho Heavy Industries Co., a South Korean shipbuilder, said Friday it has secured a 386.8 billion-won (US$280 million) order to build two container carriers for a client in the Oceania region. The vessels will be delivered in phases to an undisclosed shipping company in Oceania by March [...]
SEOUL, May 29 (Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, said Thursday it has signed preliminary agreements with two Polish shipyards to cooperate on naval vessel construction and maintenance. The company signed separate memorandums of understanding (MOUs) with PGZ SW and Nauta Shipyard during the ongoing International Maritime Defense Industry Exhibition [...]
SEOUL, May 27, 2025 (Korea Bizwire) — As the United States intensifies its efforts to curb China’s shipbuilding dominance, global shipping giants are increasingly turning to South Korean shipyards for new vessel orders, according to industry sources and reporting by TradeWinds. Germany’s Hapag-Lloyd, the world’s fifth-largest container shipping line, had been considering placing new orders [...]
SEOUL, May 26 (Korea Bizwire) —HD Hyundai Heavy Industries, the shipbuilding arm of HD Hyundai, will unveil a bold vision for its expansion into the global naval defense market at South Korea’s largest maritime defense exhibition, MADEX 2025, opening May 28 in Busan. The company announced Sunday it will join forces with defense contractor LIG [...]
SEOUL, May 16 (Korea Bizwire) – The chief executive officers (CEOs) of HD Hyundai and Hanwha Ocean Co., South Korea’s major shipbuilders, met with U.S. Trade Representative (USTR) Jamieson Greer to explore cooperation in the shipbuilding sector, the companies said Friday. HD Hyundai CEO Chung Ki-sun and Hanwha Ocean CEO Kim Hee-cheul had separate meetings [...]
SEOUL, May 16 (Korea Bizwire) — The chief executive officer (CEO) of HD Hyundai Co., South Korea’s leading shipbuilding conglomerate, met with U.S. Trade Representative (USTR) Jamieson Greer to explore cooperation in the shipbuilding sector, the company said Friday. HD Hyundai CEO Chung Ki-sun and Greer held the meeting on the sidelines of the Asia-Pacific [...]
SEOUL, May 15 (Korea Bizwire) — U.S. Trade Representative (USTR) Jamieson Greer was scheduled to meet with the chief executive officers (CEOs) of HD Hyundai Heavy Industries Co. and Hanwha Ocean Co., South Korea’s leading shipbuilders, on the sidelines of an Asia-Pacific Economic Cooperation (APEC) trade ministers’ meeting this week, industry sources said Thursday. Greer [...]
SEOUL, May 10 (Korea Bizwire) — South Korea has launched a joint public-private task force to spearhead the development of next-generation liquid hydrogen carriers, a strategic initiative to maintain the country’s global edge in shipbuilding and pioneer a future green energy market. The Ministry of Trade, Industry and Energy (MOTIE) announced Friday that it held an [...]