SEOUL, March 25 (Korea Bizwire) — Hyundai Heavy Industries Group said Thursday that it will nurture hydrogen-related business as its new growth engine amid tightened environmental regulations and rising demand for eco-friendly fuels. Under the plan, the shipbuilding group will establish a new unit that handles the production of hydrogen and the use of it [...]
ULSAN, March 18 (Korea Bizwire) – South Korea’s largest shipbuilder, Hyundai Heavy Industries Co., said Wednesday that it had introduced quantum cryptography communication technology for the first time among global shipyards, aimed at ensuring stronger security for its defense technologies. Under the initiative of establishing quantum cryptography communication infrastructure, the company successfully set up a [...]
SEOUL, March 3 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. (HHIH) said Wednesday that it has signed a deal with Saudi Arabia’s state-run oil firm Saudi Aramco to cooperate on a hydrogen project. Under the deal, Hyundai Oilbank Co., HHIH’s refining unit, will import liquefied petroleum gas (LPG) from Saudi Aramco to produce blue [...]
ULSAN, Feb. 26 (Korea Bizwire) — South Korean shipbuilder Hyundai Heavy Industries Co. said Thursday that it had developed a ship that prevents the spread of pandemics such as the coronavirus. The new vessel comes with an airborne infection isolation room and a ventilation system that fulfills the guidelines set by the Korea Disease Control [...]
SEOUL, Feb. 5 (Korea Bizwire) — South Korea’s power plant builder Doosan Heavy Industries & Construction Co. said Friday that its board of directors has decided to sell the company’s 35 percent stake in Doosan Infracore Co. for 850 billion won (US$757 million) to global shipbuilding holding company Hyundai Heavy Industries Holdings Co. (HHIH). Cash-strapped [...]
ULSAN, Jan. 21 (Korea Bizwire) – South Korean shipbuilder Hyundai Heavy Industries Co. announced on Wednesday that it had succeeded in lifting a 9,100-ton ultra-large offshore facility using a floating crane. The company said that its 10,000-ton floating crane ‘Hyundai-10000’ recently lifted the topside of the King’s Quay semi-submersible floating production system (FPS) at its [...]
SEOUL, Oct. 8 (Korea Bizwire) — With COVID-19 routing the global shipbuilding industry, shipbuilding giant group Hyundai Heavy Industries Group has been aggressively building up its business portfolio via mergers and business tieups to sharpen its competitive edge. The shipbuilding giant has been going ahead with the acquisition of its smaller local rival Daewoo Shipbuilding [...]
SEOUL, Sept. 28 (Korea Bizwire) — Hyundai Heavy Industries Holdings Co. said Monday it has joined the preliminary bidding for Doosan Infracore Co. “This company has submitted its preliminary bid for Doosan Infracore,” the shipbuilding holding company said in a regulatory filing. Hyundai Heavy Industries Holdings formed a consortium with Korea Development Bank Investment, a [...]
SEOUL, Aug. 24 (Korea Bizwire) — Global shipbuilding giant Hyundai Heavy Industries (HHI) Group said Monday it has built a very large container ship powered by liquefied natural gas (LNG) for the first time in the world. The group said Hyundai Samho Heavy Industries Co., one of its shipbuilding units, will deliver the vessel with [...]
SEOUL, July 26 (Korea Bizwire) — South Korea’s largest shipbuilder, Hyundai Heavy Industries Co., was fined 970 million won (US$805,000) for unfair trade with its subcontractors, the country’s antitrust watchdog said Sunday. The fine levied on Hyundai Heavy is the biggest-ever for acts of misusing technologies from other companies. Hyundai Heavy has stolen technologies used [...]