SEOUL, April 30 (Korea Bizwire) — Donald Trump Jr., the eldest son of U.S. President Donald Trump, met with Hanwha Group Vice Chairman Kim Dong-kwan and his two younger brothers to discuss potential partnerships in the shipbuilding, defense and energy sectors, local media reported Wednesday. Trump Jr. arrived in Seoul late Tuesday ahead of scheduled [...]
SEOUL, April 29 (Korea Bizwire) — South Korea will set up a long-term strategy this year to commercialize autonomous marine vehicle technology as part of efforts to innovate the shipping industry, the oceans minister said Tuesday. “Autonomous ships utilizing cutting-edge digital technologies, such as artificial intelligence (AI), will play a significant role in improving maritime [...]
SEOUL, April 24 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Thursday its net income more than tripled in the first quarter from a year earlier on increased sales and strong demand for high-value vessels. The consolidated net profit of South Korea’s top shipyard came to 611.6 billion won (US$427.8 [...]
SEOUL, April 16 (Korea Bizwire) – Acting President Han Duck-soo said Wednesday that strengthening shipbuilding cooperation with the United States could provide an opportunity for the South Korean shipbuilding industry to “make a leap forward.” Han made the remark during his visit to HD Hyundai Heavy Industries (HHI) Co.’s shipyard in Ulsan, 305 kilometers southeast [...]
SEOUL, April 8 (Korea Bizwire) — Samsung Heavy Industries Co., the world’s third-largest shipbuilder by orders, said Tuesday it has received a 477.8 billion-won (US$325 million) order to build four oil carriers in the Oceania region. Samsung Heavy plans to deliver the four vessels in phases to an unidentified Oceanian shipper by December 2028, the [...]
ULSAN, March 24 (Korea Bizwire) — With South Korea’s shipbuilding industry experiencing its strongest boom in 15 years, the Dong-gu district of Ulsan is taking steps to better accommodate its rapidly growing foreign population with new comprehensive support measures. The district council recently passed amendments to its foreign resident support ordinance, requiring the local government to develop, [...]
ULSAN, South Korea, March 21 (Korea Bizwire) — HD Hyundai Mipo announced Thursday it had successfully delivered South Korea’s first hybrid-propulsion roll-on/roll-off (Ro-Ro) vessel, marking a significant milestone in the nation’s shipbuilding industry. The vessel, named Chaumine, combines diesel engines with electric battery power and was delivered to CLdN, a shipping company based in Luxembourg. [...]
SEOUL, March 21 (Korea Bizwire) — After a decade of struggle, the shipbuilding industry on Geoje Island is roaring back to life, with Hanwha Ocean and Samsung Heavy Industries both surpassing 10,000 employees each and offering substantially higher wages amid a global shipping boom. According to business reports released on March 19, Hanwha Ocean and [...]
SEJONG, South Korea, March 17 (Korea Bizwire) — Hanwha Group is making a renewed attempt to acquire Austal, an Australian shipbuilding company that supplies vessels to the U.S. and Australian navies, through its defense affiliates Hanwha Systems and Hanwha Aerospace. The move follows Hanwha’s previous failed bid in April 2024, when its subsidiary Hanwha Ocean offered [...]
ULSAN, South Korea, March 17 (Korea Bizwire) — HD Hyundai Heavy Industries has developed the world’s first 3D printing technology for emergency maintenance, repair, and overhaul (MRO) on operating vessels, the company announced Monday. The company successfully completed final testing and demonstrations of the “3D Printing Digital Workshop” at HD Hyundai Samho in Mokpo, South Korea. [...]