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S. Korea to restrict foreign workers' rights to change workplaces
SEOUL -- Starting on July 9, foreign labor workers in South Korea with the non-professional employment visa "E9" will only be allowed to change their workplaces within the same regional area where their previous workplace was located, except for very few special cases. The country aims to help South Korean employers in rural areas struggling with labor shortages due to the frequent turnover of migrant workers. E9 visa is mainly provided for those in the manufacturi
July 6, 2023
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Hyundai shipyard's lashing-free container ship secures design approval from international societies
SEOUL -- The world's first lashing-free container ship, designed by South Korea's Hyundai shipbuilding group, has secured design approval from international societies. The ship does not require extra fixing work and uses a new concept device called "Portable Bench" that receives the load of containers stacked on the top of the deck and delivers it to the hull. Container lashing is the process of securing containers together on board a ship to prevent containers from moving fro
November 1, 2022
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Hyundai shipyard wins $337 million order to build FSRU for Excelerate Energy
SEOUL -- South Korea's Hyundai shipbuilding group clinched an order worth 475.7 billion won ($337 million) to build a floating storage regasification unit (FSRU), which is a special type of tanker fitted with equipment to gently warm liquefied natural gas (LNG) back into a gaseous state so it can be piped to customers on land. The 170,000 cubic meter FSRU vessel will be delivered to Excelerate Energy, a U.S.-based market leader in floating LNG regasification solutions, by the end of June 2
October 5, 2022
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Hanwha Group picked as potential owner of Daewoo shipyard in $1.4 billion deal
SEOUL -- South Korea's Hanwha Group was picked as the potential owner of Daewoo Shipbuilding & Marine Engineering in a preliminary deal to acquire a 49.3 percent stake and management rights, 14 years after its first bid for the troubled shipbuilder controlled by a state policy lender was aborted by a global financial crisis in 2008. The group has been interested in the shipbuilder's capabilities in the production of attack submarines and warships. Daewoo Shipbuilding & Marine En
September 26, 2022
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Hyundai shipyard uses Palantir big data platform to implement digital twins in shipbuilding processes
SEOUL -- In an effort to speed up the construction of smart shipyards, South Korea's Hyundai shipbuilding group expanded its partnership with Palantir Technologies, a public software company in the United States, to use its big data platform for the implementation of digital twins in all shipbuilding processes from design to production. A digital twin is a virtual clone of an object or an infrastructure. Digital twins are frequently used as testing grounds for new technologies or other ele
September 21, 2022
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Hyundai shipbuilding group works with classification society for early commercialization of self-sailing technology
SEOUL -- With the purpose of preoccupying the market, South Korea's Hyundai shipbuilding group will work with a domestic maritime classification society to advance the commercialization of an autonomous navigation system developed by the group's in-house venture, Avikus, which has tested its technology using a giant natural gas carrier for a transoceanic voyage. Korean Register (KR) said that it has signed a joint development agreement with Hyundai Heavy Industries, Avikus and the South
September 5, 2022
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Daewoo shipyard applies new technologies to deliver eco-friendly shuttle tankers in time
SEOUL -- Daewoo Shipbuilding & Marine Engineering has delivered two eco-friendly shuttle tankers to its Norwegian client by applying new technologies that helped the shipbuilder secure enough time to complete the construction of expensive ships in time. The ships are installed with a dual propulsion system capable of using liquefied natural gas (LNG) and liquefied petroleum gas (LPG) as fuel. In February 2020, Daewoo Shipbuilding & Marine Engineering (DSME) secured an order from Norway&
September 5, 2022
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Daewoo shipyard selected for state project to commercialize fuel cell tugboat by 2026
SEOUL -- Daewoo Shipbuilding & Marine Engineering, a major shipbuilder in South Korea, has been selected for a state project to develop and commercialize an eco-friendly tugboat based on a hydrogen fuel cell engine by 2026 In response to tightened international regulations on green gas emissions generated by ships. Daewoo Shipbuilding & Marine Engineering (DSME) said that the fuel cell tugboat project being pushed by the Ministry of Oceans and Fisheries would cost about 23.5 billion w
September 1, 2022
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Dae Sun shipyard wins first order to build 22,000-ton luxury cruise ship
SEOUL -- South Korean shipyards boast the best shipbuilding technology in the world, especially in the segment of liquefied natural gas carriers, but European competitors are still good in world-class luxury cruise ships and yachts that require a high degree of workforce specialization and sophisticated technologies. Dae Sun Shipbuilding & Engineering, a mid-sized South Korean shipyard that has built coastal car ferries, will build a 22,000-ton luxury cruise ferry on an order from Pan Star,
July 11, 2022
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Samsung shipyard wins $3.0 billion orders to build 14 LNG carriers
SEOUL -- Samsung Heavy Industries, a major shipbuilder in South Korea, has secured two separate orders worth 3.9 trillion won ($3.0 billion) to build 14 liquefied natural gas carriers for clients based in Bermuda and Africa. With new orders, the shipbuilder achieved 72 percent of its annual order target estimated at $8.8 billion. In a regulatory filing on June 22, Samsung Heavy Industries (SHI) said it has clinched an order worth 3.33 trillion won from an unidentified client in the Bermuda area
June 22, 2022
