HD Hyundai is expanding its collaboration with Saudi Arabia in the shipbuilding and offshore industries, positioning itself as a key partner in the Kingdom’s Vision 2030 shipbuilding promotion strategy and naval modernization program. Senior executives from both sides recently met in Seoul to discuss practical measures for joint ventures and future defense opportunities.
Building the Middle East’s Largest Maritime Industrial Complex
On September 25, Chung Ki-sun, executive vice chairman of HD Hyundai, met with Khalid Al-Falih, Saudi Arabia’s minister of investment, at the Banyan Tree Hotel in Seoul. The talks centered on advancing the International Maritime Industries (IMI) shipyard and the Makeen engine plant under construction at the King Salman Shipbuilding Complex in Jubail Port.
The IMI shipyard, launched in partnership with Aramco, Bahri, and Lamprell, is the largest maritime industrial facility in the Middle East. Equipped with three dry docks, four Goliath cranes, and seven berths, it will be capable of producing up to 40 vessels annually when fully operational between 2026 and 2027. Chung emphasized that the project symbolizes HD Hyundai’s transformation into a global design-exporting leader in shipbuilding.
Expanding Supply Chains and Naval Defense Cooperation
A roundtable on shipbuilding equipment followed the high-level discussions, exploring ways to enhance supply chains and localize production in Saudi Arabia. This aligns with Riyadh’s Vision 2030 goals, which prioritize the growth of domestic industries and attract investment from technologically advanced partners like South Korea.
In addition to commercial shipbuilding, Saudi Arabia is advancing its largest-ever naval defense program, which includes the procurement of five new frigates. HD Hyundai has proposed its HDF-6000 frigate, a 6,500-ton vessel designed for blue-water operations, as part of its bid. A preferred bidder is expected to be announced as early as next year.
Through the IMI shipyard and Makeen engine plant, HD Hyundai is cementing its role as a cornerstone of Saudi Arabia’s maritime future. With opportunities spanning commercial shipbuilding, offshore industries, and naval defense, the cooperation marks a significant step in realizing Vision 2030 while strengthening South Korea’s influence in the Middle East’s strategic shipbuilding sector.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Business Korea
