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Korea Herald
6 days ago
- 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.
Yahoo
20-05-2025
- Automotive
- Yahoo
HD Hyundai Construction Equipment's smart factory to serve as global production hub
HD Hyundai Construction Equipment has inaugurated its smart factory at the Ulsan Campus in Dong-gu, South Korea. This facility aims to serve as a global production hub, marking a significant milestone in the company's modernisation efforts, reported BusinessKorea. The smart factory integrates advanced technologies to optimise production and logistics processes. The plant's inauguration ceremony was attended by approximately 400 individuals, including HD Hyundai chair Kwon Oh-gap, vice-chair Chung Ki-sun, XiteSolution president Cho Young-cheul, president Choi Cheol-gon, and labour union branch chair Lim Young-mo, as well as other key executives, employees, and partners. Since 2023, HD Hyundai Construction Equipment has invested Won200bn ($150m) in a modernisation project to upgrade facilities and expand production capacity at the Ulsan factory. The project integrates Factory 1 and Factory 2 within the existing 234,710m² site, boosting equipment and operating systems to transform the facility. The smart factory features an integrated system that unifies production and logistics lines, introducing a real-time product tracking system. According to the company, productivity and quality consistency are improved with welding robots and vision sensors on the fabrication parts production line. Automated guided vehicles and AI-based quality inspection systems have also increased automation on the assembly line. HD Hyundai Construction Equipment anticipates a 20% improvement in labour productivity and a 35% reduction in product completion time. The production capacity for excavators and wheel loaders is expected to rise by 56%, from 9,600 to 15,000 units annually. The company expects the campus to link with major overseas production subsidiaries and customisation centres in the US and Europe. Kwon stated: 'The new factory, reborn with a smart and safe production system, will establish itself as the world's best production base equipped with technology and environment.' Choi highlighted the site's enhanced quality competitiveness, saying: 'We will continuously introduce the best products that can lead the construction equipment industry, including next-generation new models.' During the inauguration, HD Hyundai Construction Equipment delivered five units from the smart factory, including a 40-ton (t) class excavator, a 125t ultra-large excavator, and a 35t large wheel loader, to dealers in South Korea, the US, Europe, China, and Indonesia. Last month, the company reported sales of Won906.8bn and an operating profit of Won41.7bn in the first quarter of 2025, a year-over-year decline of 7.4% and 22.3%, respectively. It also unveiled its new excavator model at KINTEX 1st Exhibition Center in Goyang-si, South Korea. "HD Hyundai Construction Equipment's smart factory to serve as global production hub" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
06-05-2025
- Automotive
- Korea Herald
HD Hyundai, Maersk forge strategic alliance for low-emission shipping
HD Hyundai announced Tuesday that it has signed a strategic partnership with shipping giant Maersk to support the Danish firm's efforts toward low-emission operations while strengthening its own global supply chain. The signing ceremony took place at HD Hyundai's Global R&D Center in Seongnam, Gyeonggi Province on April 24, with Executive Vice Chair Chung Ki-sun and Maersk Chair Robert Maersk Uggla in attendance. "Our collaboration with Maersk will serve as a leading example of innovation in the global logistics market by combining decarbonization shipping technologies with integrated logistics networks,' said Chung. "We will rapidly advance the world's best shipbuilding technologies with the goal of building a sustainable maritime logistics network that ensures safety, low emissions and optimal efficiency." As part of the partnership, Maersk will test HD Hyundai's carbon-neutral sailing technologies over six months. These include HiNAS, a self-navigating ship solution co-developed with US-based Avikus, and OceanWise, an artificial intelligence-based sailing efficiency solution developed by HD Hyundai Marine Solution, the group's ship maintenance unit. Both solutions will be implemented on Maersk's container ships built by HD Hyundai Heavy Industries, HD Hyundai's shipbuilding arm. Beyond testing sailing technologies, the two companies will also explore a wider range of eco-friendly logistics innovations, such as optimizing engine efficiency and evaluating solid oxygen fuel cell technology, which is known to generate electricity without emitting carbon dioxide. Additionally, Maersk will provide tailored logistics services across HD Hyundai's diverse business units, which range from ship repair to construction equipment manufacturing. This support is expected to enhance the group's supply chain reliability and delivery speed, HD Hyundai said. "Our partnership with HD Hyundai has been built over decades, founded on mutual trust and respect. This memorandum of understanding marks an important milestone, reinforcing the strong relationship we have developed and paving the way for even greater collaboration in the future," said Uggla, the Maersk chair.
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Korea Herald
09-04-2025
- Automotive
- Korea Herald
[Photo News] HD Hyundai's motor show debut
HD Hyundai Executive Vice Chairman Chung Ki-sun (center) on Tuesday looks around the shipbuilding giant's exhibition booth at the 2025 Seoul Mobility Show, held this week at Kintex in Goyang, Gyeonggi Province. HD Hyundai made its motor show debut to showcase construction machinery, including its new automated excavator. During his visit, Chung emphasized the shipbuilder's strategic expansion into land infrastructure as part of its commitment to fostering a sustainable future. (HD Hyundai)
