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Regulator to End Review of Hyundai Heavy’s Proposed Takeover of Shipbuilder

Regulator to End Review of Hyundai Heavy’s Proposed Takeover of Shipbuilder

SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it will end its deliberation of Hyundai Heavy Industries Group’s proposed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering Co., as the company withdrew its tie-up review proposal following the veto by European authorities. The European Commission vetoed Hyundai’s proposed merger [...]

EU Vetoes S. Korean Shipbuilding Merger Between Hyundai and Daewoo

EU Vetoes S. Korean Shipbuilding Merger Between Hyundai and Daewoo

SEOUL, Jan. 13 (Korea Bizwire) — The European Union antitrust regulator on Thursday vetoed Hyundai Heavy Industries Group’s proposed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering Co., citing monopoly issues. The European Commission announced its decision to block the merger of the South Korean shipbuilders, arguing the tie-up could create a monopoly [...]

Hyundai Heavy to Operate World’s 1st Autonomous Ship in Q1

Hyundai Heavy to Operate World’s 1st Autonomous Ship in Q1

SEOUL, Jan. 6 (Korea Bizwire) — Hyundai Heavy Industries Group, the world’s biggest shipbuilder by sales, said Thursday it will operate the world’s first autonomous ship in the first quarter as it strives to secure new growth drivers. Hyundai Heavy introduced autonomous navigation technologies that will significantly help reduce the possibility of marine accidents, and [...]

Hyundai Heavy Demonstrates AI-based Vessel Fire Surveillance System

Hyundai Heavy Demonstrates AI-based Vessel Fire Surveillance System

ULSAN, Dec. 1 (Korea Bizwire) — Global shipbuilding conglomerate Hyundai Heavy Industries Group made the first demonstration of the artificial intelligence (AI)-based vessel fire surveillance system that it developed using in-house technologies, after installing it on an liquefied natural gas (LNG) carrier on Tuesday. The system is a safety solution using AI to detect and [...]

Hyundai Heavy to Set Up Guidance for Offshore Green Hydrogen Plant

Hyundai Heavy to Set Up Guidance for Offshore Green Hydrogen Plant

SEOUL, Nov. 24 (Korea Bizwire) — Global shipbuilding conglomerate Hyundai Heavy Industries Group said Wednesday it will establish the world’s first technical guidance for offshore green hydrogen plants. To that end, the group’s affiliates — Korea Shipbuilding & Offshore Engineering Co. (KSOE) and its subsidiary Hyundai Heavy Industries Co. — have signed a preliminary deal [...]

HHIH to Launch 34 bln-won Fund for Digital Health Care and Biotechnology

HHIH to Launch 34 bln-won Fund for Digital Health Care and Biotechnology

SEOUL, Nov. 10 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. (HHIH), the world’s largest shipbuilding group, said Wednesday it will launch a 34 billion-won (US$28.8 million) fund to support promising startups in the digital health care and bio industries. The fund will help the company advance into the digital health care market and seek [...]