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S. Korean Shipbuilders Open R&D Centers in Pangyo

S. Korean Shipbuilders Open R&D Centers in Pangyo

SEOUL, Jan. 7 (Korea Bizwire) — As global shipbuilding trends are shifting towards a focus on technology, including self-driving ships, Korean shipbuilders are opening a string of research and development (R&D) centers in Pangyo, a district in Seongnam, Gyeonggi Province. Pangyo is often cited as a Korean version of Silicon Valley. Shipbuilding conglomerate Hyundai Heavy [...]

Korean Shipbuilders’ New Orders Hit 8-year High in 2021

Korean Shipbuilders’ New Orders Hit 8-year High in 2021

SEOUL, Jan. 6 (Korea Bizwire) — South Korean shipbuilders received the largest orders in eight years in 2021, and the country ranked the world’s No. 1 in terms of the construction of high value-added vessels, the industry ministry said Thursday. Local shipbuilders won new orders totaling 17.44 million compensated gross tons (CGTs) last year, more [...]

S. Korean Shipbuilders Rank First in Global New Orders for 2nd Month

S. Korean Shipbuilders Rank First in Global New Orders for 2nd Month

SEOUL, Dec. 7 (Korea Bizwire) — South Korean shipbuilders ranked first in global new orders for a second month in November, far outpacing their Chinese rivals, industry data showed Tuesday. Local shipbuilders, led by Hyundai Heavy Industries Co., gained 58 percent, or a combined 770,000 compensated gross tons (CGTs), of 1.32 million CGT global new [...]

Shipbuilding Industry in High Gear to Develop Autonomous Ships

Shipbuilding Industry in High Gear to Develop Autonomous Ships

SEOUL, Oct. 26 (Korea Bizwire) — South Korean shipbuilding industry is accelerating efforts to develop autonomous vessel systems. Amid expectations that the size of the autonomous ship market would reach 180 trillion won (US$153.8 billion) by 2025, the industry is speeding up technological commercialization aimed at securing an advantage in the promising market. Samsung Heavy [...]

Korean Shipbuilders May Gain Upper Hand in Contract Talks with Shippers

Korean Shipbuilders May Gain Upper Hand in Contract Talks with Shippers

SEOUL, Oct. 22 (Korea Bizwire) — Hyundai Heavy Industries Co. and other South Korean shipbuilders are expected to hold all the aces in their negotiations with shippers thanks to abundant order backlogs, an industry expert said Friday. “South Korean shipbuilders secured order backlogs of 28.56 million compensated gross tons (CGTs), accounting for 2 1/2 years’ [...]

S. Korean Shipbuilders Surpass Annual Targets on Brisk New Orders

S. Korean Shipbuilders Surpass Annual Targets on Brisk New Orders

SEOUL, Oct. 19 (Korea Bizwire) — South Korea’s major shipbuilders have outpaced their annual order targets backed by brisk global new orders, company officials said Tuesday. According to data provided by global market researcher Clarkson Research Service, global new orders for ships came to 37.54 million compensated gross tons (CGTs) in the January-September period, up [...]

EU’s Probe Suspension Leaves S. Korean Shipbuilders’ Biz Combination in Limbo

EU’s Probe Suspension Leaves S. Korean Shipbuilders’ Biz Combination in Limbo

SEOUL, Oct. 8 (Korea Bizwire) — The proposed acquisition involving South Korea’s leading shipbuilders has been deadlocked for more than a year, as the European Union antitrust regulator shows no signs of resuming its probe into the deal. In 2019, Hyundai Heavy Industries Holdings Co., the holding company of the global shipbuilding conglomerate Hyundai Heavy [...]