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Korea Herald
23-07-2025
- Automotive
- Korea Herald
HD Hyundai starts joint shipbuilding venture in US
Edison Chouest Offshore CEO visits Korean shipbuilder's R&D site, shipyards HD Hyundai has begun taking steps to build ships in the United States in partnership with Edison Chouest Offshore, the Korean shipbuilding conglomerate said Wednesday. According to the company, a delegation of more than ten key executives and engineers from ECO, including its CEO Dino Chouest, visited Korea on Tuesday to discuss detailed plans for the joint shipbuilding project with HD Hyundai. The ECO delegation visited HD Hyundai's Global R&D Center in Gyeonggi Province and the dockyards of HD Hyundai Heavy Industries and HD Hyundai Mipo in Ulsan during their two-day visit. HD Hyundai said the US partners were briefed on the Korean shipbuilder's latest technologies and shipbuilding capabilities and had a chance to review the operational status of HD Hyundai-built vessels currently deployed around the world at the Digital Insight Center at the Global R&D Center. The ECO officials also took a look at how HD Hyundai developed its automated solutions and applied them in practical shipyard operations, as well as how it implemented robotic welding technologies. According to HD Hyundai, top leadership from both companies agreed to expand their partnership beyond the joint construction of ships to explore future business opportunities together. 'HD Hyundai fully supports efforts to revitalize the US shipbuilding industry,' said HD Hyundai Executive Vice Chairman Chung Ki-sun. 'The joint shipbuilding project between the two companies in the US will serve as an excellent example of Korea-US cooperation in the shipbuilding sector.' The ECO delegation visited HD Hyundai's shipyards in Ulsan on Wednesday to closely examine their design and production processes, along with their dock operation and management systems. HD Hyundai said engineers from ECO will remain in Korea for another week to learn about the Korean shipbuilder's techniques and discuss project specifics. The two companies previously signed a memorandum of understanding for a strategic and comprehensive partnership in June this year, agreeing to start jointly building medium-sized container vessels at ECO's shipyard in the US by 2028. The partners also pledged to expand the scope of their cooperation beyond ships to include port cranes, which have been central to US national security concerns as it seeks to curb China's influence. HD Hyundai dispatched a team of more than ten experts to ECO's shipyard in the US last month to inspect the partner's production facilities and systems and provide consultations on enhancing productivity. ECO, which operates 18 commercial shipyards across the US, maintains a fleet of 300 offshore support vessels around the world.
India Gazette
25-06-2025
- Business
- India Gazette
HD Hyundai hosts forum to boost shipbuilding ties between Korea and US
New Delhi [India], June 25 (ANI): South Korean conglomerate HD Hyundai held a special academic forum on Tuesday to find practical ways to improve cooperation between South Korea and the United States in the shipbuilding industry, as reported by the Korea Herald. HD Hyundai has a diverse range of businesses, including shipbuilding, heavy equipment, machinery, and the petroleum industry. Chung Ki-sun, Executive Vice Chairman of HD Hyundai, emphasized the importance of this partnership, saying, 'This collaboration marks the beginning of a true maritime alliance -- one that goes beyond talent exchange to sharing technologies and visions between Korea and the US.' The event took place at the company's Global Research and Development Center in Seongnam, Gyeonggi Province, and brought together shipbuilding experts and university representatives from both countries. The forum focused on how the two nations can work together to develop shipbuilding technology and support each other's industries. It also came shortly after the inauguration of South Korea's new president, Lee Jae Myung, adding significance to the event. Representatives from 13 universities, including Seoul National University, KAIST, the University of Michigan, and MIT, participated in the discussions. Important government figures such as Andrew Gately from the US Embassy in Korea and Lee Seung-ryeol from Korea's Ministry of Trade, Industry and Energy were also in attendance. A second session was held at Seoul National University later that day. Participants shared details about their university shipbuilding programs and talked about how they can work together to train future experts in the field. This forum builds on a 2024 partnership between HD Hyundai, Seoul National University, and the University of Michigan. One of the key goals is to help the U.S. bring new life to its shrinking shipbuilding industry. HD Hyundai is also partnering with American institutions like the University of Michigan and the US Naval Academy to train skilled workers for U.S. shipyards. (ANI)
Korea Herald
24-06-2025
- Business
- Korea Herald
HD Hyundai hosts forum to elevate US-Korea shipbuilding ties
HD Hyundai hosted an academic forum Tuesday aimed at explored practical measures to enhance bilateral collaboration in the shipbuilding sector, bringing together experts from both South Korea and the United States. 'This collaboration marks the beginning of a true maritime alliance — one that goes beyond talent exchange to sharing technologies and visions between Korea and the US,' said Chung Ki-sun, executive vice chairman of HD Hyundai. 'Let us work together toward the growth and prosperity of both nations' shipbuilding industries.' The event, held at HD Hyundai Global Research and Development Center in Seongnam, Gyeonggi Province, served as a platform for discussion on developing shipbuilding technology in a mutually beneficial way, particularly in the context of the recent inauguration of Korean President Lee Jae Myung, according to HD Hyundai. It brought together participants from 13 universities across Korea and the US, including Seoul National University, Korea Advanced Institute of Science and Technology, the University of Michigan and the Massachusetts Institute of Technology. Key attendees also included Andrew Gately, commercial minister-counselor at the US Embassy in Korea and Lee Seung-ryeol, deputy minister for industrial policy at Korea's Ministry of Trade, Industry and Energy. In the second session held later the same day at Seoul National University in Seoul, participants also shared details of their respective shipbuilding curricula and discussed strategies for jointly fostering industrial talent, the company said. The forum builds on a 2024 trilateral partnership between HD Hyundai, Seoul National University, and the University of Michigan, as the company explores ways to support US efforts to revitalize its declining shipbuilding industry. With workforce development viewed as a key priority, HD Hyundai is strengthening ties with US institutions like the University of Michigan and the US Naval Academy to cultivate shipbuilding talent for local shipyards.
![[Photo News] Shipbuilding tycoons at MADEX 2025](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F05%2F28%2Fnews-p.v1.20250528.51896b8a48ca480bbffd6ffb60a4ab42_T1.jpg&w=3840&q=100)
Korea Herald
28-05-2025
- Business
- Korea Herald
[Photo News] Shipbuilding tycoons at MADEX 2025
HD Hyundai Executive Vice Chairman Chung Ki-sun (third from right) takes a selfie with new employees of HD Hyundai Heavy Industries' special ship buisness unit at the International Maritime Defense Industry Exhibition -- MADEX -- 2025 in Busan on Wednesday. Chung presented the company's vision to build the best warships that back up the global maritime security during a reception ceremony with representatives from several countries. (HD Hyundai) Hanwha Group Vice Chairman Kim Dong-kwan (second from left) visits the exhibition booth of Hanwha's three affiliates -- Hanwha Ocean, Hanwha Aerospace and Hanwha Systems -- at MADEX 2025 on Wednesday. During a reception with global representatives, Kim highlighted the defense conglomerate's efforts to help the Korean economy, saying the company continues to embody the principles of doing business as a corporation to contribute to the state and humanity. (Hanwha Group)
Korea Herald
21-05-2025
- Business
- Korea Herald
Korean port cranes emerge as bargaining chip in US tariff talks
HD Hyundai, Doosan Enerbility, and HJ Heavy Industries gain traction as US seeks alternatives to Chinese port cranes Port cranes have surfaced as Korea's next bargaining chip in tariff negotiations with the United States in the wake of the Trump administration's efforts to phase out made-in-China cranes at US ports. The US Trade Representative announced a plan last month to impose tariffs of up to 100 percent on ship-to-shore, or STS, cranes and cargo handling equipment made in China or built using Chinese parts, emphasizing the need to reduce America's reliance on Chinese maritime infrastructure and address national security concerns. According to a report by the US Select Committee on the Chinese Communist Party, Shanghai Zhenhua Heavy Industry, or ZPMC, the world's largest STS crane manufacturer, run by the Chinese government, accounts for almost 80 percent of the STS cranes used at US ports. The report added that there were no domestic manufacturing alternatives for STS cranes in the US. The US has openly mentioned Korea's shipbuilding sector as an area where it seeks cooperation while it continues to push for the revitalization of its own shipbuilding industry. On top of the shipbuilding sector, Korea is poised to support the Trump administration's 'Make America Great Again' agenda with US domestic port crane manufacturers. To this end, HD Hyundai, which operates the world's largest single shipyard at its HD Hyundai Heavy Industries' Ulsan site and boasts significant crane manufacturing capacity, has emerged as a key player. HD Hyundai Vice Chairman Chung Ki-sun discussed affiliate HD Hyundai Samho's crane manufacturing capabilities with US Trade Representative Jamieson Greer on Korea's Jeju Island last week. According to HD Hyundai, Chung specifically talked about the dominance of Chinese port cranes in the US and proposed strengthening cooperation between Korea and the US to expand related supply chains in the US. 'The US certainly appears to be interested in Korea's crane manufacturing capabilities,' said an industry official. 'We think there is a good chance of port cranes being on the table for the tariff negotiations.' In addition to the STS cranes, HD Hyundai Samho is capable of producing rubber-tired and rail-mounted gantry cranes. The crane manufacturer has scored a series of crane orders at Korean ports, including a 179.6 billion won ($129.5 million) deal in Busan last year and a 206 billion won contract in Gwangyang this year. HD Hyundai Samho, which accounted for about 3.6 percent of the global port crane market share in 2023, is considering expanding production capacities in the future to bolster its global presence. Doosan Enerbility has been ramping up its port crane business activities in Vietnam through its local office, Doosan Vina. As of May last year, Doosan Vina had produced 132 cranes for various port operators in India, Indonesia, Singapore and Vietnam. HJ Heavy Industries scored a 187 billion won contract to supply 34 cranes to the Busan New Port last year. The shipbuilder and crane manufacturer is also exploring entry into the US market. Industry watchers have raised the possibility of Korean companies setting up a complete knockdown, or CKD, site in the US to deliver unassembled parts and make the final product there, as establishing a new manufacturing plant in the US might be too costly in the beginning. Paceco, a US subsidiary of Japanese manufacturing conglomerate Mitsui E&S, secured an order to supply eight cranes for the Port of Long Beach in California last year.
