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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)
South China Morning Post
23-05-2025
- Politics
- South China Morning Post
South China Sea: Philippines flexes naval muscle with 2 new warships
On a windswept pier in Subic Bay, once the site of the United States' largest overseas naval installation, Philippine President Ferdinand Marcos Jnr stood before a newly minted guided-missile frigate and declared that his country would 'not surrender anything' in defence of its maritime sovereignty. Advertisement The commissioning of two naval vessels – including the 3,200-tonne (3,500-ton) Miguel Malvar – on the Philippine Navy's 127th founding anniversary on Tuesday was more than ceremonial. It marked a bold signal of Manila's intent to modernise its maritime capabilities and project strength in contested waters. But the additions will prove meaningful only if they are paired with a cohesive strategy and deeper coordination with defence partners, analysts warn. The Miguel Malvar is a guided-missile frigate, measuring over 100 metres (330 feet) in length and outfitted with a 76mm (3 inch) Oto Melara main gun, C-Star surface-to-surface missiles and Blue Shark anti-submarine torpedoes. A sister ship, the Diego Silang, is set to be delivered later this year by South Korea's HD Hyundai under a 28 billion peso (US$503 million) procurement deal signed in 2021. Philippine President Ferdinand Marcos Jnr (centre) leaves the launch ceremony at Subic naval base in the Philippines on Tuesday. Photo: Kyodo Also commissioned was the Albert Majini, a high-speed patrol craft locally assembled under the navy's Littoral Combat Force. The eighth vessel in the Acero-class series, it honours a fallen naval officer recognised for his gallantry during anti-piracy operations in the southern Philippines
South China Morning Post
23-05-2025
- Politics
- South China Morning Post
South China Sea: Philippines flexes naval muscle with 2 new warships
On a windswept pier in Subic Bay, once the site of the United States' largest overseas naval installation, Philippine President Ferdinand Marcos Jnr stood before a newly minted guided-missile frigate and declared that his country would 'not surrender anything' in defence of its maritime sovereignty. The commissioning of two naval vessels – including the 3,200-tonne (3,500-ton) Miguel Malvar – on the Philippine Navy's 127th founding anniversary on Tuesday was more than ceremonial. It marked a bold signal of Manila's intent to modernise its maritime capabilities and project strength in contested waters. But the additions will prove meaningful only if they are paired with a cohesive strategy and deeper coordination with defence partners, analysts warn. The Miguel Malvar is a guided-missile frigate, measuring over 100 metres (330 feet) in length and outfitted with a 76mm (3 inch) Oto Melara main gun, C-Star surface-to-surface missiles and Blue Shark anti-submarine torpedoes. A sister ship, the Diego Silang, is set to be delivered later this year by South Korea's HD Hyundai under a 28 billion peso (US$503 million) procurement deal signed in 2021. Philippine President Ferdinand Marcos Jnr (centre) leaves the launch ceremony at Subic naval base in the Philippines on Tuesday. Photo: Kyodo Also commissioned was the Albert Majini, a high-speed patrol craft locally assembled under the navy's Littoral Combat Force. The eighth vessel in the Acero-class series, it honours a fallen naval officer recognised for his gallantry during anti-piracy operations in the southern Philippines
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
