HD Hyundai’s major shipbuilding units HD Hyundai Heavy Industries and HD Hyundai Mipo have officially merged to form the integrated HD Hyundai Heavy Industries. Following regulatory approvals and shareholder consent, the merger positions the new entity to strengthen its competitive edge in defense shipbuilding, eco-friendly technologies, and global strategic projects such as the Korea–U.S. MASGA initiative.
Strengthening Defense Capabilities and Expanding Global Projects
The integrated company has revealed an ambitious target: achieving sales of 37 trillion KRW by 2035, nearly doubling the combined 19.1 trillion KRW recorded last year. A major pillar of this growth is the defense sector, where HD Hyundai aims to increase sales tenfold to 10 trillion KRW by 2035.
HD Hyundai Heavy Industries already holds a strong track record in constructing and exporting domestic warships, while HD Hyundai Mipo brings specialized facilities and skilled manpower for building medium-sized and special-purpose vessels. Together, these strengths expand the company’s capacity to build a wide range of naval vessels and support major international cooperation efforts, including the Korea–U.S. MASGA Project.
A company spokesperson emphasized that HD Hyundai Mipo’s extensive experience in repairing and constructing specialized ships gives the merged entity strong versatility in warship production.
Accelerating Eco-Friendly Technologies and Market Expansion
Beyond defense, the integrated HD Hyundai Heavy Industries is focusing heavily on eco-friendly technologies and next-generation ship design. By combining the R&D and design capacities of both companies, the new entity plans to apply advanced green technologies across both medium-sized and large vessels aiming to maintain a technological lead in a rapidly evolving global market.
The company also expects major opportunities in the special-purpose ship sector. With rising global interest in Arctic routes and icebreaking vessels, HD Hyundai plans to use its combined track record to secure new orders and expand into emerging markets.
In a message celebrating the merger, HD Hyundai Chairman Chung Ki-sun highlighted the historical significance of the milestone, stating that the combined passion, expertise, and technological power of both companies will pave the way for transformative innovation in Korea’s shipbuilding industry.
The launch of the integrated HD Hyundai Heavy Industries marks a pivotal moment for South Korea’s shipbuilding sector. With bold growth targets, strengthened defense capabilities, and a clear focus on eco-friendly innovation, the company is positioning itself as a global leader for the next decade. As the merged entity leverages the combined strengths of HD Hyundai Heavy Industries and HD Hyundai Mipo, it is set to redefine competitiveness and push the boundaries of technological advancement in global shipbuilding.
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Source: THE CHOSUN Daily
