SEOUL, December 01 (AJP) - HD Hyundai Heavy Industries and HD Hyundai Mipo Shipbuilding completed their merger on Monday, forming an integrated entity under the name HD Hyundai Heavy Industries as the group seeks to reinforce its position as the world’s largest shipbuilder.
The merger, first announced in August, follows a broader consolidation trend in the global shipbuilding sector, with major players in China and Japan also unifying their leading yards.
HD Hyundai Heavy said the newly combined company will be better positioned to respond to shifting market conditions and strengthen its order pipeline. The shipbuilder aims to reach 37 trillion won in revenue by 2035 and significantly increase its role in the Korea–U.S. defense shipbuilding partnership known as MASGA.
By integrating HD Hyundai Heavy Industries’ advanced shipbuilding technology with HD Hyundai Mipo’s production capacity and expertise, the company expects to expand defense-related sales 10-fold to 10 trillion won by 2035.
The unified yard will also prioritize next-generation green technologies, consolidating R&D efforts to accelerate the adoption of eco-friendly solutions across both mid-sized and large vessels. HD Hyundai plans to pursue new demand for specialized ships, including icebreakers, as interest rises in Arctic development.
In a video message marking the launch, HD Hyundai Chairman Chung Ki-sun said the merger opens “a new chapter for our country’s shipbuilding industry,” adding that the combined workforce’s expertise would help propel future innovation.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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