Hyundai Heavy Industries Archives | Page 2 of 8 | Be Korea-savvy
Outlook for South Korean Shipbuilders Turns Positive as Demand for LNG Carriers Expected to Increase

Outlook for South Korean Shipbuilders Turns Positive as Demand for LNG Carriers Expected to Increase

SEOUL, Oct. 16 (Korea Bizwire) – Hyundai Heavy Industries, Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries, the top shipbuilders in the country, are struggling from lack of work caused by falling demand for new vessels. According to recent industry data, however, that could change in the not-too-distant future thanks to a projected rise [...]

Navy Launches New 1,800-ton Submarine

Navy Launches New 1,800-ton Submarine

SEOUL, Sept. 7 (Korea Bizwire) — South Korea on Thursday launched a new 1,800-ton submarine, characterizing it as a “strategic dagger” to strike precisely at a range of targets. The launch of the diesel-electric submarine wrapped up the Navy’s KSS-II acquisition program, which began in 2000, for the introduction of nine 1,800-ton 214-class submarines. “It’s [...]

Korean Shipbuilders Blindsided, Lose Contract to Chinese Rivals

Korean Shipbuilders Blindsided, Lose Contract to Chinese Rivals

SEOUL, Aug. 21 (Korea Bizwire) – The domestic shipbuilding industry was engulfed in a wave of low spirits as shipping publication “Tradewinds” and eBest Investment and Securities (eBest) both reported that French company CMA CGM had signed a letter of intent with two Chinese shipbuilding firms for nine container ships. The reason for the Korean [...]

Hyundai Robotics Meets Requirements for Holding Company

Hyundai Robotics Meets Requirements for Holding Company

SEOUL, Aug. 2 (Korea Bizwire) — Hyundai Robotics said Wednesday that it has secured a more than 20 percent stake in its listed affiliates in a move that made it eligible to become the holding company of Hyundai Heavy Industries Group. The company said it acquired the stocks through an open takeover offering that raised [...]

Shipbuilding, Automobile Industries Face Labor Disputes Amidst Economic Gloom

Shipbuilding, Automobile Industries Face Labor Disputes Amidst Economic Gloom

SEOUL, Jul. 7 (Korea Bizwire) — When it rains, it pours, as labor disputes are putting increased pressure on the automobile manufacturing and shipbuilding industries already sagging underneath the weight of slowing sales. The industry giants currently involved in labor negotiations include Hyundai Motor, Kia Motors and GM Korea, while Hyundai Heavy Industries, the world’s largest [...]

Hyundai Heavy Inks MOU for Marine Engine Plant in Saudi Arabia

Hyundai Heavy Inks MOU for Marine Engine Plant in Saudi Arabia

SEOUL, Jul. 5 (Korea Bizwire) — Hyundai Heavy Industries Co., a major shipyard here, said Wednesday that it has signed a memorandum of understanding with Saudi Aramco and others to build a plant in Saudi Arabia that will make engines used for ships and power generation. The Hyundai Heavy-Aramco consortium will spend US$400 million to [...]

S. Korean Shipyards Estimated to Have Clinched Record New Orders in First Half

S. Korean Shipyards Estimated to Have Clinched Record New Orders in First Half

SEOUL, Jul. 3 (Korea Bizwire) — South Korean shipbuilders, led by Hyundai Heavy Industries Co., are estimated to have clinched a record number of new shipbuilding orders in the first half of the year, with their combined tally more than doubling from a year earlier, industry data showed Monday. Hyundai Heavy and other local shipyards [...]