HD Hyundai Heavy Industries

HD Hyundai Heavy Industries
Hangul	에이치디현대중공업
Hanja	現代重工業
Revised Romanization	Eichidi Hyeondae Junggongeop
McCune–Reischauer	Eich'idi Hyŏndae Chunggongŏp

HD Hyundai Heavy Industries Co., Ltd.
Native name	에이치디현대중공업 주식회사
Company type	Public
Traded as	KRX: 329180
Industry	Defense; Machine; Shipbuilding;
Founded	Ex-HHI (now KSOE): 1972; 52 years ago; new HHI: 2019; 5 years ago
Founder	Chung Ju-yung;
Headquarters	1000, Bangeojinsunhwando-ro, Dong-gu, Ulsan, South Korea
Area served	Worldwide
Key people	Lee Sang-kyun (President & CEO);
Revenue	₩9.0455 trillion (2022)
Operating income	₩−289.2 billion (2022)
Net income	₩−352.1 billion (2022)
Total assets	₩16.2894 trillion (2022)
Total equity	₩5.2878 trillion (2022)
Owner	HD Korea Shipbuilding & Offshore Engineering (78.03%); National Pension Service (6.38%); Employee stock ownership (3.68%);
Number of employees	14,000 (2024)
Parent	HD Korea Shipbuilding & Offshore Engineering
Website	Official website in English ; Official website in Korean

HD Hyundai Heavy Industries Co., Ltd. (HHI; Korean: HD현대중공업; RR: Eichidi Hyeondae Junggongeop) is the world's largest shipbuilding company and a major heavy equipment manufacturer.^[3]^[4] Its headquarters are in Ulsan, South Korea.

History

HHI shipyard and cranes in Ulsan

HHI was founded in 1972 by Chung Ju-yung as a division of the Hyundai Group, and in 1974, completed building its first ships.^[5] In 2002, the company was spun-off from its parent company.^[6] HHI has four core business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, and Engine & Machinery. HHI also has five non-core related subsidiaries: Hyundai Electric & Energy Systems, Hyundai Construction Equipment, Hyundai Robotics, Hyundai Heavy Industries Green Energy, and Hyundai Global Service.^[7]

The Hyundai Group started as a small South Korean construction firm in 1947, headed by its founder, Korean entrepreneur Chung Ju-yung.^[8] Another widely known and closely related Korean company, the Hyundai Motor Company, was founded in 1967, five years prior to the founding of the Heavy Industry Group. The motor company was also founded by Chung. The company has a partnership with Capital Product Partners to create four specialized ships with equipment for ocean-based carbon capture and storage to be delivered in 2025 and 2026 and at a cost of $300 million.^[9]

The name is an informal romanisation of the Korean 현대 (hyeondae) meaning "contemporary" or "modern", which was Chung's vision for the group of companies that he founded.

On 11 July 2024, Hyundai Heavy Industries became the first Korean shipbuilder to sign a master ship repair agreement (MSRA) with Naval Supply Systems Command (NAVSUP), qualifying to participate in the U.S. Navy's MRO business.^[10]

Products

Shipbuilding

Crude oil tankers (Very Large Crude Carriers)
Shipping container carrier ships
Shipping exclusive container carrier cranes
Oil and natural gas drilling ships
Liquified natural gas carrier ships
Liquified Petroleum Gas Carriers (LPG) including Very Large Gas Carriers (VLGC)

Offshore & Industrial Plant Engineering

Offshore oil and gas rig engineering and construction
Oil and gas storage and delivery vessel construction (FPSO)
Heavylift ship barge and ship transport vessels (Semi-submersible) building

Naval & Special Ships

Destroyer
Frigate
Corvette
Patrol Vessel
Auxiliary Vessel
Attack Submarine

Engine & Machinery

Marine Engine & Machinery
Engine Power Plants

Gallery

A HHI LNG carrier
A HHI drillship
A HHI FPSO
A HHI naval vessel
A HHI submarine

References

^ ^a ^b ^c ^d ^e ^f ^g ^h "HD HYUNDAI HEAVY INDUSTRIES 329180". FnGuide. 2022. Archived from the original on 26 January 2024. Retrieved 26 January 2024.
^ About HHI > At a Glance - HD Hyundai Heavy Industries
^ "Bloomberg.com". 2009-01-19. Retrieved 2009-01-19.
^ "HHI Constructs World's Best Ship for 26 Years Straight". Archived from the original on 2012-07-15. Retrieved 2008-11-18.
^ Steers, Richard (1999). Made in Korea: Chung Ju Yung and the Rise of Hyundai. Routledge. p. 96. ISBN 978-0-415-92050-6.
^ "Welcome to Hyundai Heavy Industries". english.hhi.co.kr. Retrieved 2022-09-22.
^ Hyundai Heavy Industries Spins Off into Six Separate Companies Marine Insight News. Nov. 18, 2016. Downloaded Nov. 3, 2017.
^ "The last emperor". The Economist. 4 February 1999. Retrieved 11 January 2012.
^ Paris, Costas (January 31, 2024). "A New Solution for CO2 Emissions: Bury Them at Sea". The Wall Street Journal. News Corp. Retrieved January 31, 2024.
^ "HD현대重, 국내 최초 美 함정 MRO 사업 참여 자격 획득". HD Hyundai Heavy Industries. 12 July 2024. Archived from the original on 5 October 2024. Retrieved 5 October 2024.

External links

Official website
Business data for HD Hyundai Heavy Industries:

35°31.00′N 129°26.49′E / 35.51667°N 129.44150°E / 35.51667; 129.44150

[HD_HYUNDAI_HEAVY_INDUSTRIES_329180-1] ^ ^a ^b ^c ^d ^e ^f ^g ^h "HD HYUNDAI HEAVY INDUSTRIES 329180". FnGuide. 2022. Archived from the original on 26 January 2024. Retrieved 26 January 2024.

[2] About HHI > At a Glance - HD Hyundai Heavy Industries

[3] "Bloomberg.com". 2009-01-19. Retrieved 2009-01-19.

[4] "HHI Constructs World's Best Ship for 26 Years Straight". Archived from the original on 2012-07-15. Retrieved 2008-11-18.

[5] Steers, Richard (1999). Made in Korea: Chung Ju Yung and the Rise of Hyundai. Routledge. p. 96. ISBN 978-0-415-92050-6.

[6] "Welcome to Hyundai Heavy Industries". english.hhi.co.kr. Retrieved 2022-09-22.

[7] Hyundai Heavy Industries Spins Off into Six Separate Companies Marine Insight News. Nov. 18, 2016. Downloaded Nov. 3, 2017.

[8] "The last emperor". The Economist. 4 February 1999. Retrieved 11 January 2012.

[9] Paris, Costas (January 31, 2024). "A New Solution for CO2 Emissions: Bury Them at Sea". The Wall Street Journal. News Corp. Retrieved January 31, 2024.

[HHI_2024-07-12-10] "HD현대重, 국내 최초 美 함정 MRO 사업 참여 자격 획득". HD Hyundai Heavy Industries. 12 July 2024. Archived from the original on 5 October 2024. Retrieved 5 October 2024.

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